IDFC Bank plans to raise up to Rs. 5,000 crore via bonds

IDFC Bank on Wednesday said it will raise up to Rs. 5,000 crore by issuing bonds in the next one year from overseas or domestic markets.

The bank, in a regulatory filing said that the instruments through which it plans to raise capital include perpetual debt instruments, Tier II capital bonds and long term bonds on private placement basis, up to an amount not exceeding Rs. 5,000 crore.

The private lender added that the proposed capital will be raised in one or more tranches, in domestic or overseas market, over the next 12 months.

Also, the bank's board of directors approved re-appointment of Rajiv Lall as MD and CEO of the bank for a period of two years, subject to the approval of the RBI and the shareholders.

At 11:10 hours, IDFC Bank was trading at Rs. 47.70 per share, up Rs. 0.30 or 0.63 per cent on NSE. The stock's 52-week high is Rs. 71.15 and 52-week low is Rs. 47.10 per share on NSE. The stock attracted a traded volume of 31,75,978 shares on NSE.