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IDBI Bank’s board approves issue of preference shares

IDBI Bank’s board approves issue of preference shares

Wednesday, March 22, 2017, 10:31 AM

Indian government-owned financial service company, IDBI Bank’s board has approved the proposal for preferential issue of capital to Government of India and other financial institutions. The issue size aggregates up to Rs 2500 crore subject to relevant approvals from statutory or regulatory bodies. The primary objective of this fund-raising is to meet the minimum regulatory capital requirements
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