IDBI Bank to divest stake in two subsidiaries
New Delhi
10-December-2019
IDBI Bank's Board on Tuesday gave "in-principle approval" to divest its stake in IDBI Capital Market Securities (ICMS) and IDBI Intech Limited (IIL).
According to a regulatory filing issued on Tuesday, the lender will divest its stake to the extent of 49 per cent to prospective investors in ICMS and IIL.
However, the bank will retain controlling stake in both the subsidiaries.IANS
More Headlines
GST Rate Cut: Small Cars and Bikes to Get Cheaper From September 22
KTR Slams Telangana Govt for CBI Probe Against KCR, Calls It an Insult to People
Tamil Nadu Issues Public Advisory as Viral Fever Cases Rise; Masks Urged in Crowded Areas
KCR’s Daughter Kavitha Suspended from BRS Amid Family Rift and Power Struggle
PM Modi Condemns Abuse of His Late Mother at Bihar Rally, Calls It Insult to All Mothers
GST Rate Cut: Small Cars and Bikes to Get Cheaper From September 22
KTR Slams Telangana Govt for CBI Probe Against KCR, Calls It an Insult to People
Tamil Nadu Issues Public Advisory as Viral Fever Cases Rise; Masks Urged in Crowded Areas
KCR’s Daughter Kavitha Suspended from BRS Amid Family Rift and Power Struggle
PM Modi Condemns Abuse of His Late Mother at Bihar Rally, Calls It Insult to All Mothers