IDBI Bank plans to raise Rs 500 - 750 crore

IDBI Bank is looking to raise Rs 500 to Rs 750 crore through 10-year lower TIER-II bonds. The bank has not yet finalized the fund raising plan but has placed some inquiries with arrangers and will be able to go ahead with its plans very soon.

The bank is asking for an amount between Rs 500 crore to Rs 750 crore through lower TIER-II bonds which will mostly be a 10-year without a call option. However, the bank’s final decision will be based on the feedback it will get from arrangers.

Recently, IDBI Bank had picked up stake in the upcoming commodity bourse, Universal Commodity Exchange (UCX). The deal reflects the growing interest of prominent financial institutions in the commodity derivatives market in the country. IDBI Bank in the past had played pioneering role in laying the foundation of some of the prominent institutions in India like National Stock Exchange (NSE), National Securities Depository (NSDL) and Stock Holding Corporation of India (SHCIL) among others.

IDBI Bank is one of India’s leading sector banks with its operations driven by a cutting edge core Banking IT platform. The Bank offers personalized banking and financial solutions to its clients in the retail and corporate banking arena through its large network of branched and ATMs, spread across lengths and breadth of India.