The government's holding in IDBI Bank stood at 73.98 per cent as on December 2016
According to IDBI Bank, the issue of capital may be discussed in a subsequent board meeting
The bank has been in discussion with the government on the capital infusion plan
Will rework strategy, indicates FinMin, concerned at lender's worsening finances
It has lowered IDBI's stand-alone credit profile to 'B-' from 'BB-'
Total income has decreased to Rs 7,104.21 crore for the quarter ended December 2016
Provisions for bad loans jumped to Rs 2,357 cr from Rs 1,715 cr a year earlier
This is the second reduction by the bank in the last two months after demonetisation
The total loan sanctioned and disbursed by IDBI was Rs 860.92 crore
The bank is talking to two entities for an arrangement that goes beyond haircuts and provisioning
IDBI Bank's fundraising could help bolster its balance sheet
The fundraising may help the lender bolster its balance sheet and rein in bad debts
Sets coupon at 11.06% in its first AT1 bond issuance, to enhance capital adequacy
At Monday's market price, the Bank would have raised close to Rs 100 crore from lowering its stake in the rating agency
Ratings agency ICRA flags risks on public sector banks debt servicing capacity
Public sector lender IDBI Bank's net profit rose 78.3 per cent to Rs 241.1 crore for the quarter ended June, on the back of tax credits. The bank had posted a net profit of Rs 135.2 crore in the corresponding quarter last year.
Rating agency CRISIL has assigned "AA/Negative" rating for both instruments
The government holds 74 per cent stake in IDBI Bank
MoS for Finance Santosh Kumar Gangwar said PSBs have been allowed to raise capital through follow on public offer
Bank approved a resolution for issue of shares up to Rs 8,000 crore inclusive of premium amount through various modes including QIP