IDBI Bank Ltd to raise $7.5 billion in foreign currency

The Board of Directors of IDBI Bank Ltd at its meeting held on July 04, 2014, approved the proposal for mobilization in one or more tranches of (i) Rs. 4000 crore and (ii) Foreign currency resources upto USD 7.5 billion equivalent outstanding, comprising in respect of both (i) and (ii) above of Senior Bonds, Basel III Compliant Tier II / Additional Tier I Bonds, by way of Private Placement / Public Issue / Reverse Enquiry / Issuances under MTN programme during the FY 2014-15, subject to approval from shareholders and other Statutory / Regulatory approvals, if any.

Shares of IDBI BANK LTD. was last trading in BSE at Rs.107.8 as compared to the previous close of Rs. 107.9. The total number of shares traded during the day was 500325 in over 5052 trades.

The stock hit an intraday high of Rs. 108.9 and intraday low of 106. The net turnover during the day was Rs. 53872638.

Source : Equity Bulls

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