IDBI Bank Gains After Board Approves Rupee Bond Borrowing Limit For Next Fiscal
Share price of IDBI Bank gained more than three per cent on Tuesday, March 30, after the bank's board approved a rupee bond borrowing limit of ₹ 8,000 crore for the next financial year. According to a regulatory filing by the bank to the stock exchanges, the money would be borrowed in one or more tranches during financial year 2021-22. On Tuesday, IDBI Bank opened on the BSE at Rs 38.60, touching an intra day high of Rs 40, and an intra day low of Rs 37.30, in the trading session so far. On the NSE, IDBI Bank opened at Rs 38.50.
According to the regulatory filing, an additional tier-1 or AT1 bonds and the senior or infrastructure bonds can also be issued up to Rs 3,000 crore and Rs 1,000 crore, respectively, by way of private placement during the next fiscal year, i.e., financial year 2021-2022.
IDBI Bank shares were last trading 1.44 per cent higher at Rs 38.65 on the BSE. On the NSE, IDBI Bank shares traded 1.57 per cent higher at Rs 38.75.
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