IDBI Bank will raise Rs 810 crore through preferential issue of shares to the Government of India (GoI). The Government vide its letter dated March 23, 2012, has decided to infuse capital funds in the bank by way of preferential allotment of equity in favour of GoI.
IDBI Bank has a large portfolio of MSME sector units and is desirous of expanding its lending to this MSME sector in view of the fact that this sector is a key driver of Indian economy in terms of contribution to GDP, employment and exports and also the pronouncements in the Government's MSME policy.
