Indian Bank shares in focus today as board approves raising of funds 

Shares of state-owned Indian Bank are in focus on Friday said its board has approved to raise Rs 5,000 crore via long-term infra bonds to fund infrastructure sector projects.

Indian Bank shares ended 1.62% higher at Rs 533.70 in the previous session on BSE. Market cap of the lender stood at Rs 71,887 crore.

The fundraising would be done at an opportune time based on the requirement for financing/refinancing of Infrastructure and affordable housing in compliance with applicable RBI guidelines and other laws, rules and regulations, it added.

"We have to inform you that the Board of Directors of the Bank in its meeting held on date i.e. 20th March 2025, inter alia, approved for raising additional Long Term Infrastructure Bonds aggregating upto Rs.5000 Crore over and above Rs.10000 crore already raised by the Bank in current FY 2024-25, in one or more tranches during the current or subsequent financial year at an opportune time based on the requirement for financing/refinancing of Infrastructure and Affordable Housing in compliance with applicable RBI guidelines and other applicable laws, rules and regulations," said Indian Bank.