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The government on Friday invited bids from investors for privatising IDBI Bank by selling a total of 60.72 per cent stake in the bank.
The last date for submission of bids or Expression of Interest (EoI) is December 16.
Currently, Life Insurance Corporation (LIC) holds 529.41 crore shares representing 49.24 per cent stake in IDBI Bank, while the government holds 488.99 crore shares or 45.48 per cent stake.
Expression of Interest is invited for Strategic Disinvestment of specified GoI and LIC stakes in IDBI Bank along with tranfer of management control. Details are at https://t.co/hnxumJlDpo pic.twitter.com/sQbZIgLhVu
— Secretary, DIPAM (@SecyDIPAM) October 7, 2022
(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.)
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