IDBI Bank plans to raise Rs 555 cr via preferential issue to Govt

IDBI Bank Ltd is planning to raise Rs 555 crore through preferential issue of equity capital to the Government, the bank said in a notice to the BSE. The public sector bank is also planning to raise up to Rs 2,500 crore via the qualified institutional placement route. Both the capital raising programmes, which will shore up its core capital, are subject to approval from shareholders and other statutory/regulatory approvals, if any, the bank said.