"We are planning to raise about Rs 6,000 crore from the public and Rs 4,000 crore through private placement issues," chairman of IDBI, G P Gupta told PTI.

The mobilisation from the public would be higher this fiscal by Rs 1,000 crore as compared to the 1998-99 mop-up of Rs 5,000 crore, he said.

"We expect credit offtake to pick-up during this year and hence the higher mobilisation," he said adding that there were already signs of recovery in some sectors like cement which could push other allied sectors into the growth path. Gupta said the institution's first public issue for the fiscal would hit the market by June-July period.

He, however, declined to give the size of the issue saying it would be decided later after the institution announces its annual results for 1998-99 in May.

Gupta said theinstitution would raise the required funds in various batches throughout this year and would be guided by corporates' fund requirements and interest rates prevailing at that point of time.

Gupta said the public issue of rs 6,000 crore would be through an 'umbrella' prospectus.

Idbi would seek securities and exchange board of india's one time sanction to raise funds from public through separate issue during a specific period through the umbrella prospectus.

The idbi chairman said the institution has also set up a new panel under one of its senior executive directors to monitor the institutions resource mobilisation plans.

The panel would suggest ways to raise resources at minimum cost and in an efficient manner.

"As we enter the new millennium it is important for the institution to develop skills to raise resources taking advantage of the interest rate movements," the chairman said.

The panel on resource mobilisation would also keep a strong vigil to check asset-liability mismatch, he said.