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IDBI Bank spurts on the fund raising plans

24 Sep 2012 Evaluate

IDBI Bank is currently trading at Rs 100.10, up by 1.50 points or 1.52% from its previous closing of Rs 98.60 on the BSE.

The scrip opened at Rs 99.00 and has touched a high and low of Rs 100.60 and Rs 96.00 respectively. So far 102087 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 121.50 on 17-Feb-2012 and a 52 week low of Rs 77.15 on 02-Jan-2012.

Last one week high and low of the scrip stood at Rs 99.80 and Rs 91.00 respectively. The current market cap of the company is Rs 15442.64 crore.

The promoters holding in the company stood at 70.52% while Institutions and Non-Institutions held 17.17% and 12.31% respectively.

Public sector lender - IDBI Bank, in order to fund its overseas business growth, is planning to raise another $500 million amounting about Rs 2,700 crore through foreign currency bonds by March 2013. The issue would be made under the $1.5-billion Medium Term Note (MTN) programme listed on the Singapore Stock Exchange. Of the total limit of $1.5 billion, the bank had raised $1 billion in two tranches of $500 million each.

The bank last week had managed to raise $500 million from foreign currency bonds. The transaction which had received an overwhelming response attracted interest from a diversified range of foreign investors including asset managers and banks and had seen issue oversubscribing by nine times. The final coupon fixed was 4.375%.

The long-term notes denominated in USD were issued by the Dubai International Financial Centre (DIFC) branch of IDBI Bank and around 68% of the allocation was made to Asian investors, 23% and 9% to European investors and Middle East investors respectively. Besides, the bank also plans to double its MTN programme to $3 billion.

IDBI Bank Share Price

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