IDBI Bank has sold one per cent stake in Small Industries Development Bank of India (SIDBI) for an undisclosed amount in a bid to mobilize funds by exiting non-core business. The bank has sold 53,19,220 shares constituting 1 per cent of the paid up capital of SIDBI. The sale took place on September 22, 2017.
Earlier this year, the bank had announced it plans to dilute stake in some non-core businesses to shore up capital base.
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