IDBI Bank to raise Rs. 4000 crores through QIP / FPO

The Board of Directors of IDBI Bank Ltd at its meeting held on June 07, 2014, has granted in principle approval for the proposal to raise Equity Capital to the extent of Rs. 4000 crore through Qualified Institutions Placement (QIP) / Follow-on Public Offer subject to Statutory / Regulatory approvals, if any.

Shares of IDBI BANK LTD. was last trading in BSE at Rs.112.15 as compared to the previous close of Rs. 112.2. The total number of shares traded during the day was 1172144 in over 12409 trades.

The stock hit an intraday high of Rs. 114.9 and intraday low of 110. The net turnover during the day was Rs. 132111239.

Source : Equity Bulls

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