 "IDBI gains after it plans to raise funds via QIPs")
Shares of IDBI Bank are up nearly 1% to Rs 89.65 on the Bombay Stock Exchange (BSE) in an otherwise weak market after the bank announced that it plans to raise funds via qualified institutional placement (QIP) throughout the year.
The public sector lender has informed BSE that it will be raising the equity capital to the tune of Rs 3,771 crore at an appropriate time during the year.
Further, in another announcement, the bank informed the stockexchange that it has mobilised Rs 1,000 crore on private placement basis in order to consolidate the bank’s capital adequacy.
The stock opened at Rs 90.80 and touched a high of Rs 91.15 during intraday. A combined total of 3.4million shares changed hands on the counter of NSE and BSE.
