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IDBI Bank to raise 280B rupees in bonds, equity

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IDBI Bank to raise 280B rupees in bonds, equity

IDBI BankLtd. plans to raise up to 280 billion rupees through an issue ofequity and bonds.

The bank said July 23 that it will issue shares worth up to80 billion rupees through various modes including qualified institutionalplacement. The bank will also issue up to 200 billion rupees of bonds.

Further, the bank will raise its authorized share capital to45 billion rupees from 30 billion rupees.

As of July 25, US$1was equivalent to 67.44 Indian rupees.