In a regulatory filing, the bank said its credit committee, and investment and raising capital committee has authorised the opening of the qualified institutional placement (QIP) of shares on June 21.
The floor price has been set at Rs 117.04 per share and it can sell shares at a discount of not more than 5 per cent, it said in the filing.
Investment banking sources put the indicative price band of the share sale at between Rs 111.50 to Rs 116.70.
The bank is looking at issuing between 214.2 million to 224.2 million shares in the issue.
The bank scrip shed 1.81 per cent to close at Rs 116.85 at the BSE, as against a 0.04 per cent correction in the benchmark.
German lender Deutsche Bank, Kotak Mahindra Capital and IIFL Holdings are bankers to the issue.
Meanwhile, shares of the Bank were trading at Rs 118.20 apiece, up 1.16 per cent from the previous close at 11:0 hours on BSE.