IDBI Bank share price falls 5% after it withdraws bond issue
The share touched its 52-week high Rs 76.90 and 52-week low Rs 31.30 on 02 April, 2019 and 24 March, 2020, respectively.
March 30, 2020 / 09:57 AM IST
IDBI Bank share price fell nearly 5 percent after the company withdrew its bond issue worth Rs 1,000 crore.
The bank has withdrawn the issue of bonds due to sudden RBI Policy Rate cut, CRR cut, liquidity support and other measures announced causing significant fall in interest rates in the market, as per BSE release.
Earlier, the bank was decided to issue Basel III Compliant Tier 2 Bonds for an aggregate total issue size of Rs 1000 crore, with a base size of Rs SOO crore and a Green Shoe option to retain oversubscription up to Rs 500 crore.
At 09:28 hrs IDBI Bank was quoting at Rs 19.00, down Rs 0.70, or 3.55 percent on the BSE.
The share touched its 52-week high Rs 76.90 and 52-week low Rs 31.30 on April 2 and March 24, respectively.