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IDBI Bank has said that Rs 2,229 crore has been infused by the government into the bank in lieu of preferential allotment of shares.
It said that on Tuesday, the amount has been received on the account of IDBI Bank.
The bank said in a regulatory filing “Receipt of consideration amount of Rs.2,229 crore from government towards preferential allotment of equity shares.”
The government approved and sanctioned the release of Rs.2,228.99 crore on 28 December towards its contribution in the preferential allotment of over 29.60 crore equity shares at a price of Rs.75.28 per unit, it added.
“…the aforesaid amount has been received in the account of IDBI Bank on 29 December, 2015,” It said.
