Indian Bank said that its board, at the meeting held on Thursday (26 September 2024) has approved for raising additional long term infrastructure bonds aggregating up to Rs 5000 crore, in one or more tranches.
The above fund raising would be over and above Rs 5000 crore already raised by the bank in current FY 2024-25.
The fund raising via issue of infrastructure bonds would be undertaken during the current or subsequent financial year, based on the requirement for financing/refinancing of infrastructure and affordable housing in compliance with applicable RBI guidelines and other applicable laws.
Indian Bank is a public sector bank. The Government of India held 73.84% stake in the bank as on 30 June 2024.
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