IDBI Bank has reportedly sold 7% stake in Small Industries Development Bank of India (SIDBI) to National Bank for Agriculture and Rural Development (NABARD) for Rs 900 crore. With this, NABARD now owns 10 percent of SIDBI. This is the largest ever investment made by the country's foremost rural financial institution so far.
Worsening asset quality has marred IDBI Bank's near-term prospects and the bank is now looking to sell its non-core assets. In August, the lender put its entire 16.25 percent stake in SIDBI on the block and has been trying to find buyers for it ever since.
| Company Name | CMP |
|---|---|
| HDFC Bank | 764.55 |
| ICICI Bank | 1266.15 |
| Axis Bank | 1271.05 |
| Kotak Mahindra Bank | 381.30 |
| Indusind Bank | 922.20 |
| View more.. | |
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