Mumbai, Oct 29 (TIWN) The Board of Directors of IDBI Bank has approved raising funds up to Rs 6,000 crore by issuing equity shares through qualified institutional placement (QIP).

The Board of IDBI Bank at its meeting held on 29 October 2020 has approved the raising of funds for an amount not exceeding Rs 6000 crore through issue of equity shares through qualified institutions placement subject to approvals of the regulatory and/or statutory authorities, as applicable.