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IDBI Bank strengthens on plan to raise $500 million via bonds

15 Feb 2016 Evaluate

IDBI Bank is currently trading at Rs 53.70, up by 1.60 points or 3.07% from its previous closing of Rs 52.10 on the BSE.

The scrip opened at Rs. 50.25 and has touched a high and low of Rs. 54.90 and Rs. 50.25 respectively. So far 1368182 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. 47.40 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 58.95 and Rs. 47.40 respectively. The current market cap of the company is Rs. 10212.78 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 has decided to raise up to USD 500 million through Tier I bonds. The Board of Directors of the Bank at its meeting held on February 12, 2016, has approved issuance of Basel III compliant Additional Tier 1 (AT 1) Bonds in offshore markets upto USD 500 million to enhance its Tier 1 capital. AT-1 bonds, which qualify as core or equity capital, are one of the means of raising capital by public sector banks that require Rs 1.80 lakh crore by March 2019 to meet global norms on capital adequacy (Basel III).

IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking platform with strong service orientation.

IDBI Bank Share Price

74.71 0.62 (0.84%)
21-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
HDFC Bank 811.65
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Kotak Mahindra Bank 381.50
Indusind Bank 856.45
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