IDBI Bank shares 8 pc jump in capital infusion announcement
New Delhi, September 3 () IDBI Bank shares rose on Tuesday almost 8 percent after the government approved the infusion of rupee funds of 9,300 rupees in the company to help improve the bank's capital base and Make it profitable.
The scrip increased 7.66 percent to close at Rs 28.80 in BSE. During the day, it rose 10.84 percent to Rs 29.65.
In the NSE, the shares rose 5.78 percent to close at Rs 28.35.
In terms of negotiated volume, 30.75 lakh shares were traded in the BSE and more than two million rupees in the NSE during the day.
The Minister of Information, Decisions and Cabinet, the Minister of Information and Broadcasting, Prakash Javadekar, said he will help complete the IDBI Bank recovery process and allow him to return to profitability and normal loans, and will give the government the option to recover your investment in a timely manner.
Of the Rs 9,300 million rupees needed, LIC would reach 51 percent (Rs 4,743 million rupees), he said.
The remaining 49 percent, which amounts to Rs 4,557 million, is proposed by the government as its one-time share, he added.
The government's shareholding declined to 46.46 percent from 86 percent, while LIC's share in the bank increased to 51 percent in January this year. SUMA ANU ANU