IDBI Bank to raise Rs 1,500 crore via tier-I bonds

NEW DELHI: Public sector IDBI Bank today said it will raise Rs 1,500 crore by issuing tier I bonds.

"IDBI Bank proposes to issue an additional tier-I bond amounting to Rs 1,500 crore," it said in a BSE filing.

The bank said it will allot the bonds on August 30, 2016.

Shares of of IDBI Bank closed 0.14 per cent lower at Rs 71.90 on BSE today.