IDBI Bank board okays Rs 8,000 cr bond borrowing limit for FY22

IDBI Bank on Friday said its board has approved a rupee bond borrowing limit of Rs 8,000 crore for the next financial year.

Earlier this week, the lender had informed about the borrowing plan for the next fiscal through bonds.

The board of directors at its meeting held on Friday (March 26, 2021) has approved rupee bond borrowing limit of Rs 8,000 crore, to be borrowed in one or more tranches during 2021-22, IDBI Bank said in a regulatory filing.

Within this borrowing plan, the bank said it may issue additional tier I bonds and infrastructure bonds up to Rs 3,000 crore and Rs 1,000 crore respectively, by way of private placement in FY22.

IDBI stock closed 0.66 per cent up at Rs 38.10 apiece on BSE.