IDBI Bank has received approval from board of directors for raising up to Rs 6,000 crore through an issue of shares to qualified institutional players. The board at its meeting held on October 29, 2020, passed a resolution for approving the raising of funds for an amount not exceeding Rs 6,000 crore through issue of equity shares through qualified institutions placement (QIP) subject to approvals of the regulatory and/or statutory authorities.
IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking platform with strong service orientation.
