IDBI Bank: Raising Rs. 1435 crore from 44 investors?

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IDBI Bank: Raising Rs. 1435 crore from 44 investors?

IDBI Bank has raised Rs. 1,435 for the issuance of shares to 44 qualified investors, according to law enforcement. The bank intended to increase Rs 2,000 crore (base size Rs 1,000 crore and greenshoe option Rs 1,000 crore) with QIP case at a minimum price of Rs 40.63 each.

It must also be noted that the QIP committee consisting of the board of directors at its meeting held on December 19, 2020, approved the matter and allocated 3,71,808,177 equity shares to 44 eligible institutional buyers at the disbursement of Rs 38.60 per share, the IDBI Bank said in a formal statement. The shares were issued at a discount of 5% of the minimum price of Rs 40.63 each, he said. The QIP case was opened on December 15 and closed on December 18, 2020.

Among all the investors allocated, more than 5 percent of the shares in the QIP issue were Punjab National Bank (20.90 percent of subscriptions), Bank of Baroda (13.94 percent), State Bank of India (13.93 percent), Indian Bank (6.97 percent), Canara Bank (6.97 percent) and Societe Generale-ODI (5.66 percent). Submit a shareholding of shares in this matter, with the payment of bank share shares, increased to Rs 10,752.40 crore, containing 10,752,402,175 shares, IDBI Bank said.

Like the IDBI bank, Punjab National Bank (PNB) has raised less than its target for its QIP which closed on Friday. Earlier in the day, Punjab National Bank (also known as PNB) had agreed to issue 106,70,52,910 equity shares at a discount of 4.95 percent from all the combined values which goes ​​up to Rs 3788,03,78,305 i.e. (Rs 3,788.03 crore) to be allocated to eligible institutional buyers.

The Punjab National Bank (also known as PNB) had planned to raise up to Rs. 7,000 through the installation of QIPs on Tuesday.

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