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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