10-07-2022 04:52 PM | Source: Reuters
Indian government looks to sell majority stake in IDBI Bank
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The Indian government is looking to sell a 60.72% majority stake in IDBI Bank and has invited expressions of interest, it said in a notification on Friday.
State-owned Life Insurance Corporation of India will also be diluting its holding in IDBI Bank as part of the state's divestment process.
The total 60.72% stake sale comprises a 30.48% stake from the government and a 30.24% stake from LIC.
At the end of June the Indian government held 45.48% of IDBI bank while LIC held 49.24%.
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