IDBI Bank is planning to raise up to Rs 11,000 crore equity capital through various modes, including a qualified institutional placement (QIP), in about a year to strengthen its capital base. The lender will seek approval from shareholders for the proposal in the upcoming annual general meeting (AGM) on August 17, 2020.
The issuance of shares will be including but not limited to one or more of the existing shareholders/members, employees of the bank, Qualified Institutional Buyers (QIBs) by way of public issue, rights issue or private placement.
IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking platform with strong service orientation.
