Why IDBI Bank shares are trading higher today
SEBI has given nod to reclassification of the government’s shareholding in IDBI Bank as ‘public’ post its stake sale in the lender.
idbi bank stake sale
January 2023
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SEBI allows Centre's stake in IDBI Bank to be reclassified as 'public' after sale
The market regulator has also directed the new buyer to comply with minimum public shareholding norms within one year of the sale.
IDBI Bank strategic sale process begins; Centre, LIC to offload over 60% stake
Government as well as LIC will sell a little over 30% stake each in the bank along with the transfer of management control.
IDBI Bank share edges lower on stake sale report
The Life Insurance Corporation (LIC) of India and the central government are planning to sell up to 65% stake in IDBI Bank.
IDBI Bank share rises 9% on report of stake sale by govt
Govt holds a 45.48% stake in IDBI Bank, while 49.24% is owned by LIC, accounting for about 94% shareholding in the bank. Both parties could sell a partial stake
Here’s why IDBI Bank shares are surging today
IDBI Bank shares gained 5.5% to hit a high of ₹49.8 on the BSE amid reports that the central government and LIC of India will sell their stake in the lender.
