IDBI Bank exits NSE

Our Bureau Chennai | Updated on September 08, 2020

IDBI Bank on Tuesday informed the exchanges that it has sold its remaining 10.3 lakh shares (0.21 per cent) of the National Stock Exchange. IDBI Bank, of late, has been selling shares in non-core business such as IDBI Federal Life Insurance Company. It had also received the board’s in-principle approval to divest/ dilute stake in its subsidiaries -- IDBI Capital Market Securities Ltd and IDBI Intech Limited -- to the extent of 49 per cent to prospective investors and retain controlling stake in the Bank. Shares of IDBI Bank ended 0.9 per cent lower at ₹38.10 on the NSE on Tuesday.

Published on September 08, 2020

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