IDBI Bank has withdrawn its plan to raise Rs 1,000 crore capital through Basel-III compliant bonds. The bank has taken this decision to withdraw the issue, citing reasons including sudden RBI policy rate cut, CRR cut, liquidity support and other measures announced, causing significant fall in interest rates in the market.
This has reference to bank's earlier disclosure made on March 24, 2020, wherein it was intimated that bids for the issue of Basel-III compliant tier 2 bonds for aggregate total issue size of Rs 1000 crore, with a base size of Rs 500 crore and a greenshoe option to retain oversubscription up to Rs 500 crore.
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