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IDBI Bank gets in-principle approval to divest stake in subsidiaries

11 Dec 2019 Evaluate

IDBI Bank has received in-principle approval to divest / dilute its stake in its subsidiaries namely IDBI Capital Market Securities (ICMS) and IDBI Intech (IIL) to the extent of 49% to the prospective investors and retaining controlling stake with the Bank. The Board of Directors of the bank at its meeting held on December 10, 2019 has approved the same.

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 1361.75
Axis Bank 1270.05
Kotak Mahindra Bank 438.75
Indusind Bank 875.90
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