 "IDBI Bank")
The Union finance ministry on Friday invited initial bids for strategic disinvestment in IDBI Bank to sell, jointly with the Life Insurance Corporation (LIC), 60.7 per cent in the bank.
According to the expression of interest (EoI) released by the Department of Investment and Public Asset Management (DIPAM), LIC, which owns 49.2 per cent in IDBI, will cut its stake to 19 per cent, while the government will reduce its shareholding to 15 per cent from 45.5 per cent at present.
When the markets closed on Friday, IDBI Bank’s market cap was nearly Rs 45,913 crore.
Even without a premium, LIC stands to
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