IDBI raises tire I bonds of Rs. 5,500 cr & HSG & infra bonds
State- owned IDBI Bank has approved issuance of additional tier I bonds up to Rs 5,500 crore to enhance capital. The bank also approved issuance of Rs 500 crore long term bonds, with equivalent green-shoe option to support infrastructure and affordable housing. The decisions were taken at the meeting of Board of Directors held today.
"Issue of Basel III compliant additional Tier I bonds upto the eligible limit as stipulated by RBI, in multiple tranches in INR and/or FC upto the eligible limit as stipulated by RBI, in multiple tranches in INR and/ or FC upto a rupee equivalent amount of Rs 5,500 crore to enhance Tier I capital," it said in a filing to the BSE. "Issue of long term bonds for financing of infrastructure and affordable housing to the extent of Rs 500 crore with green-shoe option of Rs 500 crore," it added.
The state sector lender said the following decisions of the board are subject to government's