Industrial Development Bank of India plans to launch Rs. 2.1 billion of tier II bonds

By Reshmi Basu

New York, April 6 - Industrial Development Bank of India Ltd said it plans to launch the first tranche of IDBI omnibonds tier II (2005-06) series IV for an amount of Rs. 2.1 billion.

The bonds are being issued under a scheme to restructure IDBI's liabilities, now finalized by the government of India.

IDBI, based in Mumbai, India, is a financial institution.

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