IDBI Bank, one the leading public sector banks, announced that the bank has raised USD 350 million to fund the energy projects in India.

"The issue was made under the USD 5 billion MTN programme listed on the Singapore Stock Exchange," it said.

IDBI Bank has become the first state-owned commercial bank to raise USD 350 million by selling green bonds, where proceeds are used for refinancing of clean energy projects in India.

The proceeds will also be used for financing of new projects in the areas of wind energy, solar energy, biomass, water recycling systems, energy distribution and management system and sustainable transport.

Shares of the bank gained Rs 1.1, or 1.34%, to trade at Rs 83.10. The total volume of shares traded was 200,994 at the BSE (12.14 p.m., Thursday).