IDBI Bank in a filing on Thursday informed the exchanges that the Board of Directors, at its meeting held on Thursday, November 26, 2020, has approved the proposal for Exercise of Call option on IDBl Omni Bonds 2010-11 lower Tier II Series IV & IDBI Omni Bonds 2010-11 Upper Tier II Series V.
The details of the bonds and the call option are as follows:
1. The proposed date of exercising the call option on IDBl Omni Bonds 2010-11 lower Tier II Series IV - Issued on January 20, 2011 with an issue amount of Rs856.10cr, is January 20, 2021.
2. The proposed date of exercising the call option on IDBI Omni Bonds 2010-11 Upper Tier II Series V - Issued on March 25, 2011, is March 25, 2021.
"The bonds would be redeemed at par to face value along with interest accrued thereon till the preceding day of the aforesaid call date. It may also be noted that the actual exercise of call option and payment of redemption amount would be made subject to receipt of regulatory approval and compliance of conditions stipulated therein, if any," said the Bank.
IDBI Bank ended at Rs37.95 per piece up by Rs0.05 or 0.13% from its previous closing of Rs37.90 on the BSE.