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IDBI informs about disinvestment of IDBI Bank's stake in IFLI

27 Jun 2020 Evaluate

IDBI has informed that the Board of Directors at its meeting held on Friday, June 26, 2020, has approved to sell IDBI Banks stake in IDBI Federal Life Insurance Company Limited (IFLI) to the extent of 23% to Ageas and 4% to Federal Bank at a combined value of about Rs 595 crore, subject to all regulatory approvals to be taken by all related parties and agreements which are yet to be finalized. This is in terms of Regulation 30 of the SEBI (LODR) Regulations, 2015.

The above information is a part of company’s filings submitted to BSE.

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