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IDBI Bank soars on plan to raise Rs 3,771 crore through QIP route

21 Jan 2016 Evaluate

IDBI Bank is currently trading at Rs 57.30, up by 2.00 points or 3.62% from its previous closing of Rs 55.30 on the BSE.

The scrip opened at Rs. 56.20 and has touched a high and low of Rs. 57.80 and Rs. 55.60 respectively. So far 1616677 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 95.70 on 03-Dec-2015 and a 52 week low of Rs. 52.45 on 25-Aug-2015.

Last one week high and low of the scrip stood at Rs. 68.25 and Rs. 53.85 respectively. The current market cap of the company is Rs. 10906.30 crore.

The promoters holding in the company stood at 80.16% while Institutions and Non-Institutions held 11.62% and 8.22% respectively.

IDBI Bank, the public sector lender has decided to raise Rs 3,771 crore instead of an earlier plan of raising Rs 2,800 crore through the qualified institutional plans (QIP) route. The bank’s board of directors has approved revising the QIP issue size from Rs 2,800 crore approved by the board on November 4, 2015, to Rs. 3,771 crore, in line with the Government of India's approval dated December 30, 2015.

The Board also approved the visit of Top Management Team of the Bank to larger Domestic and International Investor Centres to target major investor hubs and BFSI focussed investors including meetings with big-ticket domestic and foreign investors during the period from January 14 till January 25, 2016 in connection with raising of equity capital of the Bank through QIP route.

IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking platform with strong service orientation. The bank reported 0.85% rise in its net profit at Rs 119.5 crore for the quarter ended September 30, 2015 as compared to Rs 118.49 crore for the same quarter in the previous year.

IDBI Bank Share Price

75.07 0.78 (1.05%)
17-Apr-2026 16:59 View Price Chart
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