IDBI Bank has secured Rs 1,435 crore via issue of equity shares to 44 eligible qualified institutional buyers, as per a regulatory filing. The bank had intended to raise Rs 2,000 crore (base size Rs 1,000 crore and green-shoe option of Rs 1,000 crore) by way of the QIP issue at a floor price of Rs 40.63 per equity share.
The QIP committee of the board of directors at its meeting on December 19, 2020, approved the issue and allotment of 371808177 Equity Shares to the 44 institutional investors at the issue price of Rs 38.60 per Equity Share (including a premium of Rs 28.60 per Equity Share after offering about 5% discount on the floor price of Rs 40.63 per Equity Share) aggregating to Rs 1435.18 crore, pursuant to the QIP Issue of Rs 2000 crore.
The Issue opened on December 15, 2020 and closed on December 18, 2020 and the same was intimated to the Stock Exchanges through Bank’s letters dated December 15, 2020 and December 18, 2020, respectively, according to the regulatory filing.
Allottees who have been allotted more than 5% of the Equity Shares offered in the Issue are – Punjab National Bank (20.90%), Bank of Baroda (13.94%), State Bank of India (13.93%), Indian Bank (6.97%), Canara Bank (6.97%), Societe Generale – ODI (5.66%).
-AK
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.