IB Times
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IDBI Bank saw its share price flaring up on the Bombay Stock Exchange (BSE) on reports that the International Financial Corporation (IFC) is likely to pick up a 15% stake in the public sector lender.

The stock was trading at Rs 93.95%, after scaling a 52-week high of Rs 95.10 on Monday.

The IFC is the private investment arm of World Bank.

In response to a clarification sought by the BSE, the bank said, "We confirm that no such events/negotiations in respect of the published news have not taken place in the bank and the bank is not aware of any such information that has been published in the newspapers."

Currently, the government of India holds a 76.5% equity stake in the bank.

The bank's net profit for the second quarter ended September 2015 was flat at Rs 119.50 crore year-on-year, though total income had gone up 4% to Rs 7,913 crore from Rs 7,610 crore in the September 2014 quarter. Its NPAs stood at 3.16% up from 2.79% for the quarter ended September 2014.

Last week, IDBI Bank had raised $350 million in green bonds, becoming the first public sector lender to do so. Asian investors accounted for about 82% of the allocation, with the balance going to European investors.

The proceeds of the 5-year bonds will be utilised to refinance clean energy projects in India, the bank said.

The issue was managed by ANZ Bank, BNP Paribas, Citibank, HSBC, JP Morgan Chase and Standard Chartered Bank.

The stock ended the day at Rs 93.45, up 8.16% from its Friday close.