IDBI Bank shares jump over 10% on Rs 7,500 cr fund-raising plans in current fiscal

Shares of IDBI Bank on Thursday jumped 10.6 percent after the company said it has targeted to raise up to Rs 7,500 crore in the current fiscal

|Apr 09, 2020, 12:20:19 IST

New Delhi: Shares of IDBI Bank on Thursday jumped 10.6 percent after the company said it has targeted to raise up to Rs 7,500 crore in the current fiscal. The scrip gained 10.57 percent to Rs 21.95 on the BSE. [caption id="attachment_4428589" align="alignleft" width="380"]

Stock brokers. Representational image. Reuters.[/caption]On the NSE, it climbed 6.34 percent to Rs 20.95. The private sector lender on Wednesday said it has targeted to raise up to Rs 7,500 crore through rupee bonds in the current fiscal.Click here to follow LIVE news and updates on stock markets The borrowing programme comprises additional Tier I bonds up to Rs 3,000 crore, Basel III Tier 2 bonds up to Rs 3,500 crore and senior/ infrastructure bonds up to Rs 1,000 crore by way of private placement during 2020-21. Separately, it said that the board of directors has also approved the proposal to sell the bank's stake of up to 27 percent in its life insurance joint venture IFLI.

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IDBI Bank shares jump over 10% on Rs 7,500 cr fund-raising plans in current fiscal

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India remains among fastest-growing major economies despite global uncertainty, says RBI Bulletin

Iran war could cut global growth by more than half: World Bank’s chief economist Indermit Gill

Brent crude climbs to $94 as analysts expect oil prices to stay in $90–100 range

UK inflation cools further to 2.6% in June as transport and food prices ease

India's gem and jewellery exports jump 26.5% in June on stronger global demand