After Air India, now this big bank of the country is going to be sold! Sale process will start in May


After Air India, now this big bank of the country is going to be boughtAfter the country’s well-known Air India, now preparations are being began to promote IDBI Bank. For this, the central government is going to arrange an open provide. in this regard Parliament by Ministry of Finance The data is given in. In the Lok Sabha, Minister of State for Finance Bhagwat Karad said that before issuing the Expression of Interest (EOI), the government is going to conduct a street present for this to grope the minds of the traders. LIC and the government maintain more than 94 per cent fairness in IDBI Bank.

Preparations start to promote IDBI Bank

IDBI Bank The preparation for promoting has been began, this process has now accelerated as soon as the EOI arrives. Preparation for inviting letter of curiosity to promote stake in IDBI Bank by the month of May is underway. Amidst all this, the share of IDBI Bank has registered an enhance of 4.43% on NSE. Earlier it closed at Rs 44.75. With regard to the sale of IDBI Bank, the process of sale will be began in the month of May. It is the largest promoting bank in the country after Air India. A street present is being organized by the government to promote the bank. Information associated to this has also been given in Parliament. According to experiences, the government may promote all its stake in IDBI Bank.

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Government and LIC maintain stake in IDBI

The government and LIC maintain over 94 per cent stake in IDBI Bank. Out of 94 p.c, the government and LIC have a similar stake.

  • LIC holds 49.24 per cent stake in IDBI Bank.
  • While the government holds 45.48 p.c stake in IDBI Bank.
  • Together, these two have a stake of more than 94 p.c in the bank.
  • The non-promoter shareholding stands at 5.29%.

Government may promote entire stake

To entice traders, the government is in dialogue with the administration management to promote about 26 per cent stake in the bank. The government can promote no matter stake it has in the bank to everybody. The Cabinet Committee on Economic Affairs had given the inexperienced sign for strategic disinvestment and switch of administration management in IDBI Bank in May last year.

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