IDBI Bank has received final letter of open offer from Life Insurance Corporation (LIC) for acquisition of 2,04,15,12,929 fully paid-up equity shares representing 26% of the fully diluted voting equity share capital of IDBI Bank from the equity shareholders of IDBI Bank. The open offer has been made at a price of Rs 61.73 a share, which is in connection with LIC's acquisition of 51% controlling stake in IDBI Bank.
IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking platform with strong service orientation.
