IDBI Bank divestment on track: Govt
The central government and LIC together plan to sell 60.72% of shares in IDBI Bank.
The central government and LIC together plan to sell 60.72% of shares in IDBI Bank.
The market regulator has also directed the new buyer to comply with minimum public shareholding norms within one year of the sale.
Government as well as LIC will sell a little over 30% stake each in the bank along with the transfer of management control.
Tuhin Kanta Pandey says the Centre is preparing an expression of interest, following which preliminary bids will be invited from investors.