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“The bank has decided to issue Basel III Compliant Tier 2 Bonds for an aggregate total issue size of Rs 1,500 crore, with a base size of Rs 500 crore and a greenshoe option to retain oversubscription up to Rs 1,000 crore,” IDBI Bank said in a filing.
The bids for the above issuance would be invited on the electronic bidding platform (EBP) of BSE Bond and the bidding window shall remain open on January 31, it said.
Last month, Parliament approved Rs 9,300 crore capital infusion in IDBI Bank.
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State-owned LIC, which is the promoter of the debt-ridden lender with a 51 percent stake, will pump in an additional Rs 4,743 crore to improve the bank’s capital position.