IDBI Bank has amongst other parties entered Share Purchase Agreement (SPA) with Muthoot Finance (Buyer). IDBI Bank has agreed to sell its entire 66.67% equity shares in its subsidiary IDBI Asset Management and entire 100% equity shares in its subsidiary IDBI MF Trustee Company, to Muthoot Finance. Under the SPA along with IDBI Bank, IDBI Capital Markets & Securities also agreed to sell its entire 33.33% equity shares in its subsidiary IDBI Asset Management.
IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking platform with strong service orientation.
