IDBI Bank opens QIP, fixes floor price as Rs. 40.63

Subsequent to the approval accorded by the Board of IDBI Bank, at its meeting held on October 29, 2020 and the special resolution passed by the shareholders of the Bank on August 17, 2020, the Committee has, at its meeting held today i.e. December 15 , 2020, approved and adopted the preliminary placement document dated December 15, 2020 and the application form dated December 15, 2020 in connection with the Issue.

The committee authorised the opening of the Issue today, i.e. December 15, 2020 and approved the floor price for the Issue as Rs. 40.63 per equity share. The Bank may offer a discount of not more than 5% on the floor price so calculated for the Issue.

Shares of IDBI BANK LTD. was last trading in BSE at Rs.42.4 as compared to the previous close of Rs. 41.1. The total number of shares traded during the day was 1341069 in over 4001 trades.

The stock hit an intraday high of Rs. 43.85 and intraday low of 40.4. The net turnover during the day was Rs. 56835249.

Source : Equity Bulls

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