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IDBI Bank gains on fund raising plan

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Capital Market
Last Updated : Aug 25 2016 | 9:47 AM IST

IDBI Bank rose 2.09% to Rs 73.40 at 09:18 IST on BSE after the bank said that it proposes to issue an additional Tier 1 bonds amounting to Rs 1500 crore with deemed date of allotment on 30 August 2016.

The announcement was made after market hours yesterday, 24 August 2016.

Meanwhile, the BSE Sensex was up 50.56 points, or 0.18%, to 28,110.50

On BSE, so far 1.58 lakh shares were traded in the counter compared with average daily volume of 6.44 lakh shares in the past one quarter. The stock hit a high of Rs 74.45 and a low of Rs 73 so far during the day. The stock hit a 52-week high of Rs 95.70 on 3 December 2015. The stock hit a 52-week low of Rs 47.40 on 12 February 2016.

The large-cap state-run bank has equity capital of Rs 2058.82 crore. Face value per share is Rs 10.

IDBI Bank's net profit rose 78.35% to Rs 241.10 crore on 4% growth in total income to Rs 8,219.43 crore in Q1 June 2016 over Q1 June 2015.

The Government of India currently holds 73.98% stake in IDBI Bank (as per the shareholding pattern as on 30 June 2016).

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First Published: Aug 25 2016 | 9:16 AM IST

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