IDBI Bank disinvestment Government approves 100 pc stake sale by Centre and LIC varpat– News18 Hindi

New Delhi. Big information related to Bank Privatisation is coming out. Life Insurance Corporation of India (LIC) and the government will sell their entire stake in IDBI Bank. The Central Government has approved the sale of its entire stake to LIC. On July 9, the Department of Investment and Public Asset Management (DIPAM) said that the Cabinet Committee on Economic Affairs (CCEA) has also approved the stake sale on its behalf. LIC will now sell its entire stake in IDBI. Along with this, there will also be a transfer of management.

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.

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