at Rs 53.44 apiece to LIC on preferential basis to raise Rs 1,500 Cr. the bank
board approved the proposal for preferential issue of capital to Life Insurance
Corporation of India, aggregating up to Rs 1,500 crore (inclusive of premium
amount) subject to Government of India’s approval.
Indian market regulator
Sebi’s approval to raise Rs 3,771 cr. through issue of shares to qualified
institutional players, a move which would dilute the government’s holding
significantly in the lender.
schemes currently hold 7.25 percent stake in IDBI Bank. The bank also got
approval for raising up to USD 500 million through tier 1 bonds
move cleared by IRDA
issue of shares to qualified institutional playersa (QIP).