Industrial Development Bank of India Limited (IDBI) a leading public sector bank, has revealed its plan to raise capital worth Rs 5,000 crore through senior, upper and lower Tier II bonds in 2009-10.

The decision was taken by the company to shore up its capital adequacy ratio for supporting business growth.

Recently, the international rating agency Fitch has assigned a rating of ‘AA+(ind)’ to IDBI Bank’s Rs 4,000 crore senior and lower Tier-II subordinated bonds and ‘AA-(ind)’ rating to Rs 1,000 crore upper Tier-II subordinated bonds, which are to be issued in the domestic market.

In a separate release today, State-owned IDBI Bank today reduced its benchmark prime lending rate (BPLR) by 0.5 per cent to 13 per cent effective from April 15.

Shares of the bank gained Rs 0.9, or 1.68%, to end at Rs 54.40. The total volume of shares traded was 1,126,309 at the BSE (Thursday).