In compliance of Regulation 30 of the SEBI (LODR) Regulations, 2015, IDBI Bank has informed that the bank has allotted 82,75,90,885 equity shares to Life Insurance Corporation of India at a price of 60.73 per share (inclusive of premium amount of 50.73 per share) aggregating to Rs 5025.96 crore in the final tranche II of the Preferential Issue on January 21, 2019 thereby completing acquisition of 51% controlling stake by LIC in the bank. Board has also approved reclassification of LIC as Promoters of the bank in terms of the Shareholder's resolution passed on November 07, 2018 to this effect.
The above information is a part of company’s filings submitted to BSE.
