Wednesday, 29 October 2014

IDBI Bank firms up on raising $350 million from overseas bond sale

IDBI Bank is currently trading at Rs. 68.40, up by 0.15 points or 0.22 % from its previous closing of Rs. 68.25 on the BSE.
The scrip opened at Rs. 68.75 and has touched a high and low of Rs. 68.95 and Rs. 68.25 respectively. So far 55123 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 116.50 on 09-Jun-2014 and a 52 week low of Rs. 52.95 on 30-Jan-2014.
Last one week high and low of the scrip stood at Rs. 69.00 and Rs. 65.30 respectively. The current market cap of the company is Rs. 10971.06 crore.
The promoters holding in the company stood at 76.50 % while Institutions and Non-Institutions held 13.92 % and 9.58 % respectively.
State-run IDBI Bank has raised $350 million in an overseas bond sale highlighting pick-up in forex fund raising by domestic corporates.  The city-based lender raised $350 million in overseas senior unsecured notes through its Dubai branch. Global credit rating agency, Fitch has assigned the senior unsecured notes issue due April 2020 a final rating of ‘BBB-‘.
IDBI Bank is new generation public sector universal bank that rides on a cutting edge Core Banking Information Technology platform. This enables the Bank to offer personalized banking and financial solutions to its clients through its 1,217 branches and 2,101 ATMs.

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