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 IDBI Bank board approves preferential issue to Government and LIC
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IDBI Bank board approves preferential issue to Government and LIC

Agency News

Mumbai, Sep 19 : Private Sector Lender IDBI Bank said its Board of Directors, at its meeting held on Thursday, has approved the proposal for Preferential Issue of Capital to Government of India and Life Insurance Corporation of India aggregating upto Rs 4,557 crore and Rs 4743 crore respectively, subject to statutory / regulatory approvals, if any, required to be obtained in this regard.

In this connection, it is proposed to obtain shareholders' approval by way of Postal Ballot.bank said in a filing with BSE.(UNI)