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New Delhi: State-owned IDBI Bank said it would come out with a follow-on public offer in January next year to meet its future capital requirements.
It also plans to raise USD 500 million through bonds from overseas to fund some of the Indian corporates' overseas expansion programmes.
"We plan to come out with an FPO (Follow-on public offer) in January," IDBI Bank Chairman and Managing Director Yogesh Agarwal said.
The bank requires about Rs 15-16,000 crore in the next three to four years, he said.
Asked about the amount it plans to raise, Agarwal said, "Whole size of the issue would be double of what government of India is willing to subscribe."
"If I come out with issue of Rs 2, government of India will have to subscribe one and the public has to subscribe remaining one," he said.
The government holds 52 per cent stake in the bank.
Agarwal said the bank is waiting to know from the government how much money it would be getting.
The government has announced to recapitalise some of the public sector banks, including IDBI. It has recently got a USD 2 billion (Rs 10,000 crore) loan from the IMF to do so.
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