This is a part of exercise to exit from non-core business.
The "board of directors of IDBI Bank... have by way of circular resolution approved sale of 1,20,00,000 equity shares of NSDL e-Governance Infrastructure Ltd (NEGIL) constituting 30 per cent stake held by the bank", it said in a filing to stock exchanges.
Also Read
Last month, IDBI Bank's board also approved sale of 1.5 per cent stake in the leading bourse National Stock Exchange (NSE).
The bank had sold 9 lakh equity shares constituting 2 per cent of the paid-up capital of the NSE to LIC on March 30, 2016.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)