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IDBI Bank to sell upto 27% stake in IFLI

27 Jun 2020 Evaluate
IDBI bank has received an approval to sell its stake held in IDBI Federal Life Insurance Company (IFLI) to the extent of 23% to Ageas and 4% to Federal Bank at a combined value of about Rs 595 crore. The meeting of Board of Directors of the bank held on June 26, 2020, 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 706.10
ICICI Bank 1339.70
Axis Bank 1249.00
Kotak Mahindra Bank 441.15
Indusind Bank 853.40
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