IDBI Flexibond-96 redemption

Industrial Development Bank of India (IDBI) has decided to redeem the remaining outstanding bonds of the Flexibonds-96 series aggregating over Rs 220 crore, by exercising the five-year call option. The regular income bonds and easy exit bonds (EEBs) would be redeemed on March 18.

The bonds will be redeemed at face value or deemed value and no interest will be payable after March 18; the record date for the same was January 17. IDBI is also exercising the call option on Deep Discount bonds under the Flexibonds-1997 series and the call option date has been fixed as April 30. IDBI had earlier exercised the call option on its Deep Discount Bonds (DDBs) and retirement bonds aggregating nearly Rs 1,980 crore.