 "IDBI Bank to raise Rs 3,771 crore via QIPs")
Public sector lender IDBI Bank today said it will raise Rs 3,771 crore during the year by way of qualified institutional placement (QIP).
Informing about the government's approval for raising the equity capital, it said the money will be raised at an appropriate time during the year.
"The government has conveyed its approval to IDBI Bank to raise capital to the tune of Rs 3,771 crore, through QIP route, at an appropriate time during the year," it said in a regulatory filing.
Scrip of the public lender closed 1.44 per cent higher at Rs 88.90 on BSE.
