Wednesday, December 30, 2015

Fund infusion to keep IDBI Bank in focus

IDBI Bank has received Rs.2,228.99 crore from the Centre on Tuesday. Following this, the bank has allotted 29.60 crore equity shares at Rs.75.28 a share to the Centre on preferential basis, it informed the exchanges in a post-maket-hours disclosure.

The capital infusion is part of the Centre’s programme to infuse fresh equity into PSU banks till 2018-19 to shore up their capital base to help meet Basel norms. Investors will monitor further developments.

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