IDBI Bank board okays rupee bond borrowing limit of Rs 8,000 cr for FY23

Private sector lender IDBI Bank on Tuesday said its board of directors has approved the rupee bond borrowing limit of Rs 8,000 crore for the next fiscal year beginning April 1.

It will comprise additional tier I (AT-1) bonds up to Rs 3,000 crore and senior/infrastructure bonds up to Rs 1,000 crore by way of private placement during FY23, the lender added.

The board of directors, at its meeting held on March 29, 2022, has approved the rupee bond borrowing limit of Rs 8,000 crore for FY23, to be borrowed in one or more tranches, IDBI Bank said in a regulatory filing.

Stock of IDBI Bank closed 3.05 per cent down at Rs 42.85 apiece on BSE.