IDFC Bank plans to raise non-convertible debt on private placement

Board to meet next month to mull issue; disclose quantum of funds to be raise not disclosed

Private lender IDFC Bank today said its board will meet next month to consider raising funds through non-convertible debt securities on private placement basis.

"The 22nd Board Meeting of IDFC Bank Ltd will be held on Tuesday, April 25, 2017 at Mumbai to discuss and approve, among other items...Fund raising through issue of non-convertible debt securities on private placement basis, if required during fiscal 2017-18 as part of its normal business of borrowing and lending funds," IDFC Bank said in a regulatory filing.

It did not elaborate on the quantum of funds it may raise.

Shares of IDFC Bank were trading 0.83 per cent higher at Rs 61 on BSE.