IDBI Bank is likely to sell its equity holdings in 229 Indian unlisted and unquoted Indian companies under individual offers within the next 15 days. The bank has confined that no one can bid for the whole portfolio in consolidation.
Through this divestment, the bank will be cleaning up dud portfolio as these investments span almost the whole industry spectrum from containers to paper to petrochemicals to textiles to electronics and to telecom.
IDBI Bank had an equity portfolio of Rs 3,277.37 crore as on March 31 2011, against Rs 2,698.3 crore on March 31 2010. However, the bank did not give a break up of its investments in quoted and unquoted equity in its annual report.
IDBI Bank has a large portfolio of MSME sector units and is desirous of expanding its lending to this MSME sector in view of the fact that this sector is a key driver of Indian economy in terms of contribution to GDP, employment and exports and also the pronouncements in the Government's MSME policy.
Company Name | CMP |
---|---|
HDFC Bank | 1507.85 |
ICICI Bank | 1102.25 |
Axis Bank | 1165.45 |
Indusind Bank | 1460.00 |
Kotak Mahindra Bank | 1693.85 |
View more.. |