IDBI Bank to raise up to Rs 2,500 cr in equity capital

The bank would hold shareholders' meeting on April 27 to get nod for the capital raising plan

IDBI Bank will raise equity capital up to Rs 2,500 crore, including Rs  1,900 crore from the government and institutions like Life Insurance Corporation (LIC), to meet minimum regulatory capital requirements.

The board has approved the proposal for “preferential issue of capital to government of India and other financial institutions”, up to Rs 2,500 crore, subject to statutory and regulatory approvals, the public sector lender informed the BSE on Tuesday.

While the board discussed the capital plans, the issue of change of guard (managing director and chief executive K Kharat moving to head Indian Bank) was not on agenda. The