IDBI Bank's board to consider a fund-raise of Rs8000 crore

24 Mar 2022 , 02:59 PM

IDBI Bank Limited informed the investors and exchanges that a meeting of the Board of Directors will be held on Tuesday, March 29, 2022. In the said meeting, the Board of Directors will consider the proposal for approval of the Rupee Bond Borrowings limit of Rs8000 crore for the upcoming financial year, FY2022-23. Such sum is to be borrowed in one or more tranches.

In its regulstory filing, the public bank stated, “In terms of Regulation 29 and 50 of the SEBI (LODR) Regulations, 2015, it is hereby informed that a meeting of Board of Directors of IDBI Bank Ltd. will be held on Tuesday, March 29, 2022, to consider the proposal for approval of Rupee Bond Borrowings limit of Rs8000 crore for FY2022-23, to be borrowed in one or more tranches.”

IDBI Bank stock was trading at Rs45.15 up by Rs0.35 or 0.78% from its previous closing of Rs44.80 on the BSE. So far in the day, it touched a high and low of Rs45.90 and Rs44.45 respectively.