The board of public sector lender, IDBI Bank would be meeting to decide on capital infusion worth Rs 3,119.04 crore from the government.

This capital infusion will be in a way of equity share buyout by the government. The government would be buying 25.95 crore equity shares at Rs 120.19 per share as a part of the plan to support public sector banks in their lending capacity.

The board would consider on issuing preference shares worth Rs 3,119.04 crore to the government.

Three other banks, namely Union Bank, Bank of Maharashtra and UCO Bank would also get capital under the capital infusion scheme.