IDBI Bank, the public sector lender is planning to raise up to Rs 1,200 crore through qualified institutional placement (QIP) in FY14. During the current financial year, the bank has required an additional Rs 3,000 crore, of which Rs 1,800 crore will come from the Government and the rest will have to be raised via QIP route.
Recently, the bank has been allotted Rs 1,800 crore in support from the government, as part of the Centre’s Rs 14,000-crore capital infusion programme for banks during this fiscal.
IDBI Bank is the youngest, new generation, public sector universal bank that rides on a cutting edge core banking Information Technology platform. This enables the bank to offer personalized banking and financial solutions to its clients through its 1,111 branches and 1821 ATMs.
