IDBI Bank looks to exit early from NSE

IPO delay may force lender to sell its 1.5% stake, valued at Rs 700 crore, privately

Peeved by the long delay in the initial public offering (IPO) of the National Stock Exchange (NSE), state-owned lender IDBI Bank is looking to offload its stake in the country’s largest stock exchange through private deals.

Mounting bad loans, tepid business growth and erosion of core capital have forced the state-owned lender to liquidate its non-core assets — such as the NSE stake — to raise resources. 

IDBI Bank was looking to sell its entire stake in the NSE’s IPO, which was initially supposed to hit the market before the end of 2017. But, regulatory overhang created by the co-location