State-sector IDBI Bank’s shareholders have approved a proposal to raise up to Rs 10,000 crore through various modes including QIP.
The decision was taken at the bank’s annual general meeting held yesterday (July 18), IDBI Bank said in a regulatory filing.
IDBI Bank said among the resolutions passed at the AGM were the issue of shares aggregating up to Rs 5,000 crore through various modes of issue including qualified institutions placement (QIP). And mobilisation in one or more tranches up to Rs 5,000 crore comprising of bonds by way of private placement/public issue.
Earlier in June, the bank had said that it requires to maintain its tier-1 capital.