IDBI Bank rose 0.84% to Rs 84.35 at 9:45 IST on BSE after the bank said that it has launched the US dollar denominated green bond issue of 5 year tenor yesterday, 23 November 2015 acting through its Dubai International Financial Centre branch.
The bank made announcement after market hours yesterday, 23 November 2015.
Meanwhile, the S&P BSE Sensex was up 9.34 points or 0.04% at 25,828.68.
On BSE, so far 33,038 shares were traded in the counter as against average daily volume of 12.37 lakh shares in the past one quarter.
The stock hit a high of Rs 84.40 and a low of Rs 83.70 so far during the day. The stock had hit a 52-week high of Rs 89.75 on 30 October 2015. The stock had hit a 52-week high of Rs 52.45 on 25 August 2015.
The stock had outperformed the market over the past one month till 23 November 2015, declining 0.54% compared with 6.01% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 24.66% as against Sensex's 5.65% fall.
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The large-cap PSU bank has equity capital of Rs 1603.96 crore. Face value per share is Rs 10.
IDBI Bank said the bonds are fixed rate senior unsecured notes with a tenor of 5 years and denominated in US dollars. The bank has notified that the investor put option is at 100% if aggregate of direct and indirect government of India shareholding falls below 51%. IDBI Bank proposes to use the net proceeds from the sale of the notes to fund, or reimburse the bank for its funding of, certain new and existing eligible Green projects.
Green bonds are debt instruments where the money raised is used for funding renewable energy projects.
IDBI Bank's net profit rose 0.9% to Rs 119.50 crore on 4% growth in total income to Rs 7913.64 crore in Q2 September 2015 over Q2 September 2014.
The Government of India held 76.5% stake in IDBI Bank (as per the shareholding pattern as on 30 September 2015).
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