Mumbai-based public sector lender IDBI Bank is seeking shareholders’ nod to raise equity capital of up to Rs 5,000 crore through various routes, including qualified institutional placement (QIP), to meet capital adequacy norms.
In addition, the ailing bank will tap market to raise up to Rs 5,000 crore through infrastructure bonds and basel-III-compliant additional tier-I and tier-II bonds.
The bank will put the proposal for raising equity capital before shareholders at its annual general meeting (AGM) on July 18. The special resolution passed at the last AGM (held on July 22, 2016) for raising capital through QIP, is valid only for one