Saturday, Apr 20 2024 | Time 10:41 Hrs(IST)
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Business Economy


IDBI Bank raises Rs 1k cr via bonds

New Delhi, Feb 10 (UNI) IDBI Bank has raised Rs 1,000 crore from bonds sold through private placement.
Proceeds will be used by the public sector bank to fund country’s infrastructure boom.
IDBI Omni Infrastructure Bonds 2015-16 Series III are unsecured, non-covertible redeemable bonds, the bank said in a statement.
The 10-year bonds will have coupon rate of 8.80 per cent, it added.
On 31 December, IDBI Bank had informed stock exchanges that the government had approved its plan to raise Rs 3,771 crore through a QIP. The bank, however, has not communicated any timeline for the launch of the QIP.
UNI NM RN 1504
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