IDBI plans ADR issue

FEBRUARY 11: According to top IDBI officials, the instituion has already started the ground work by preparing its accounts as per GAAP accounting systems. An announcement on the quamtum and the timing of the issue would be made this month, officials said.

An American listing would give IDBI crucial exposure to international stock markets and access to cheap capital. IDBI, which has floated a separate infotech arm, IDBI Intech will get good valuations, officials add.