IDBI Bank gets Rs 2,729 crore from govt
Public sector IDBI Bank has received capital infusion of Rs 2,729 crore from the government.
"Government has on December 29, 2017 infused share application money of Rs 2,729 crore towards preferential issue of equity infusion of IDBI bank during the fiscal year 2017-18 under the plan as government's investment," it said in a regulatory filing.
The bank said its board of directors at the ensuing meeting will consider the proposal for approval of preferential issue of capital to government up to Rs 2,729 crore.
The government on October 24 had unveiled a Rs 2.11 lakh crore two-year road map for strengthening NPA-hit public sector banks, which includes re-capitalisation bonds, budgetary support, and equity dilution.
Stock of bank closed 0.83 per cent down at Rs 59.85 on BSE.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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