IDBI Bank to sell upto 27% stake in IFLI

IDBI Bank Ltd. | Bank - Private | BFSI | BSE: 500116 | NSE: IDBI

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	740.00
ICICI Bank	1343.50
Axis Bank	1250.00
Kotak Mahindra Bank	415.00
Indusind Bank	958.00
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Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
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Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
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SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045

Compliance Officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com	Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com	Telephone: +919860919463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com	Telephone: +919175899463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer:	Registration granted by SEBI, enlistment with exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.