The mandatory open offer from Life Insurance Corporation of India to the shareholders of IDBI Bank opens on Wednesday (December 26) and closes on January 8, 2019. The open offer aims at acquiring 204.15 crore shares, representing 26 per cent of the fully-diluted voting equity share capital of IDBI Bank, at a price of ₹61.73 a share. IDBI Bank had said that the government will not participate in the open offer. Reaction of shareholders will be closely tracked by marketmen.