IDBI Bank gets Rs 2229 crore capital infusion from government

Bank news

IDBI Bank gets Rs 2229 crore capital infusion from government

Public sector lender IDBI Bank today said the government has infused Rs 2,229 crore into the bank in lieu of preferential allotment of shares.

It said the said amount has been received on the account of IDBI Bank today.

“Receipt of consideration amount of Rs 2,229 crore from government towards preferential allotment of equity shares,” the bank said in a regulatory filing.

Government approved and sanctioned the release of Rs 2,228.99 crore on December 28 towards its contribution in the preferential allotment of over 29.60 crore equity shares at a price of Rs 75.28 per unit, the bank added.

“…the aforesaid amount has been received in the Account of IDBI Bank on December 29, 2015,” it added.

Earlier in August, government had announced capital infusion of Rs 20,088 crore in 13 public sector banks that include PNB, SBI, IDBI, Bank of Baroda and Canara Bank.

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