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Home STOCKS Indeed Bank Share Price: Of course Bank jumps 4% as lender repays...

Indeed Bank Share Price: Of course Bank jumps 4% as lender repays Rs 35,000 crore to RBI

NEW DELHI: Shares of Indeed Bank gained more than 4 for every cent in Wednesday’s trade immediately after the private lender reported it has repaid Rs 35,000 crore to the RBI out of the complete special liquidity facility (SLF) of Rs 50,000 crore drawn for interim support.
The stock rose 4.4 per cent to hit a high of Rs 15.69 on the BSE, in addition to 4.88 for each cent achieve in the past session.
In its FY20 annual report, Certainly Bank’s Chairman Sunil Mehta mentioned: ” In addition to the Distinctive Liquidity Facility (SLF) of Rs 50,000 crore prolonged by RBI, the bank has given that then received powerful consumer liquidity inflows. I am pleased to report that the bank has, as of date repaid Rs 35,000 crore of SLF and the balance will be repaid in the timelines set by RBI,” he said.
The bank lately raised equity funding of Rs 15,000 crore via stick to-on community offering (FPO).
In yet another development, the bank divested more than 8 for each cent stake really worth more than Rs 75 crore in CG Energy and Industrial Alternatives by way of open market transactions.
The lender offloaded 5.18 crore shares truly worth around Rs 75 crore through the BSE and the NSE, as for each bulk offer knowledge. The quantum of shares amount to 8.28 per cent shareholding in the organization.

Sure Bank experienced much more than 8 crore shares or 12.79 per cent stake in CG Electrical power at the close of June 2020.

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