IDBI Bank said that it has received a capital infusion of Rs 3,119.04 crore from the government. The capital infused through preferential allotment of shares to the Government of India would augment capital adequacy.
Under the scheme, the government would buy 25.95 crore equity shares at Rs 120.19 a piece as part of its planned capital support to banks.
Approval in this regard was accorded by shareholders at the sixth AGM of the bank last week, which is subject to allotment of the shares in terms of the prescribed statutory and regulatory formalities, IDBI Bank said in a statement.
The government currently holds 52.6 per cent stake in the bank. Post-capital infusion, the stake of the Central Government would go up to 65.15 per cent.
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