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IDBI Bank downsizes QIP to Rs 2,000 crore

16 Dec 2020 Evaluate

IDBI Bank has set the floor price at Rs 40.63 per share for its proposed qualified institutional placement (QIP), and downsized the fundraise by two-thirds to Rs 2,000 crore. The bank's board at its meeting on October 29, 2020 had proposed to raise Rs 6,000 crore by issuing shares through QIP.

IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking platform with strong service orientation.

Peers
Company Name CMP
HDFC Bank 740.00
ICICI Bank 1343.50
Axis Bank 1250.00
Kotak Mahindra Bank 415.00
Indusind Bank 958.00
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