IDBI Bank Ltd gets Rs. 7881 crore share application money

Govt. of India has, on March 27, 2018 infused share application money of Rs. 7881 crore, being the remaining portion of capital infusion of Rs. 10,610 crore planned by Govt. of India for IDBI Bank for FY 2017-18, aimed at meeting the minimum CET 1 and Tier 1 capital requirements of IDBI Bank (Rs. 2729 crore infused earlier).

The Board of Directors will, now, formally approve the proposal for seeking shareholders' approval through Postal Ballot under section 62(1)(c) of the Companies Act, 2013 for the Preferential Issue of Capital aggregating to 7881 crore to Govt. of India, in this regard.

Shares of IDBI BANK LTD. was last trading in BSE at Rs.76.25 as compared to the previous close of Rs. 72.1. The total number of shares traded during the day was 4575184 in over 10497 trades.

The stock hit an intraday high of Rs. 76.95 and intraday low of 73.2. The net turnover during the day was Rs. 345555388.

Source : Equity Bulls

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