Investors will have this condition
At present IDBI is a private sector bank and the government’s stake in it is 45.5%. While the shareholding of LIC is 49.24 percent and that of non-promoters is 5.29 percent. However, DIPAM said that how much stake in IDBI Bank will be sold will depend on many things. DIPAM said, “When the transaction process starts, it will be decided according to the interest of the investors.”
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Government will sell 100% stake
The department also made it clear that along with LIC, the government will also sell its entire stake. A transaction advisor will also be appointed for this deal. Let us tell you that Moneycontrol had already informed that the central government is preparing to sell its entire 26 percent stake in IDBI Bank.