IDBI Bank gets government’s share application money of Rs 1,861 crore
DSIJ Intelligence / 10 Aug 2017
The Government of India (GoI) has infused share application money of Rs 1,861 crore towards fresh preferential issue of equity capital of IDBI Bank as part of its annual capital exercise for FY 2018, said IDBI Bank in a BSE filing on Wednesday post market hours.
The Government of India (GoI) has infused share application money of Rs 1,861 crore towards fresh preferential issue of equity capital of IDBI Bank as part of its annual capital exercise for FY 2018, said IDBI Bank in a BSE filing on Wednesday post market hours.
The Board of Directors of IDBI Bank, in their next meeting, will consider the proposal for approval of preferential issue of capital to GoI up to Rs 1,861 crore and for conducting a postal ballot exercise for obtaining shareholders’ approval, the bank added.
IDBI Bank was trading at Rs 56.20, up by Rs 0.10 or 0.18% as at 0920 hours on Thursday, on the BSE.
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