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Last Updated : Sep 19, 2019 11:37 AM IST | Source: Moneycontrol.com

IDBI Bank approves preferential issue to LIC, Govt of India; shares down 3%

The share touched its 52-week high Rs 65.80 and 52-week low Rs 23.55 on 09 January, 2019 and 23 August, 2019, respectively.

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Shares of IDBI Bank fell 3 percent intraday on September 19 after the company approved preferential issue of capital to Life Insurance Corporation and the government.

The board of directors, at a meeting on September 19, approved the proposal for preferential issue of capital to the government and LIC aggregating upto Rs 4,557 crore and Rs 4,743 crore, respectively, subject to regulatory approvals, if any.

At 1125 hours, IDBI Bank was quoting at Rs 27.30, down Rs 0.50, or 1.80 percent, on the BSE.

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The share touched its 52-week high of Rs 65.80 on 9 January, 2019 and 52-week low of Rs 23.55 on 23 August, 2019.

It is trading 58.51 percent below its 52-week high and 15.92 percent above its 52-week low.

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First Published on Sep 19, 2019 11:37 am
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