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LIC to acquire stake in IDBI Bank

16 Jul 2018 Evaluate

Life Insurance Corporation of India (LIC) has received approval from its board to hold a 51% stake in IDBI Bank. The life insurer now holds 7.5% stake in the bank and will acquire the remaining stake from the government, for this the Bank will issue preference shares to LIC to complete the deal.

IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking platform with strong service orientation.


Peers
Company Name CMP
HDFC Bank 714.20
ICICI Bank 1360.20
Axis Bank 1269.00
Kotak Mahindra Bank 439.00
Indusind Bank 876.00
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