{"id":244184,"date":"2022-10-07T17:11:00","date_gmt":"2022-10-07T17:11:00","guid":{"rendered":"https:\/\/haftavasool.com\/haftavasool\/?p=244184"},"modified":"2022-10-07T17:11:00","modified_gmt":"2022-10-07T17:11:00","slug":"government-lic-to-sell-majority-stake-in-idbi-bank","status":"publish","type":"post","link":"https:\/\/haftavasool.com\/haftavasool\/blog\/2022\/10\/07\/government-lic-to-sell-majority-stake-in-idbi-bank\/","title":{"rendered":"Government, LIC To Sell Majority Stake In IDBI Bank"},"content":{"rendered":"

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\"Government,<\/div>\n

In the three months to June 30, IDBI Bank made a net profit of 7.56 billion rupees. (File)<\/p>\n<\/div>\n

The Indian government is looking to sell a 60.72% majority stake in IDBI Bank and has invited expressions of interest, it said in a notification on Friday.<\/p>\n

State-owned Life Insurance Corporation of India will also be diluting its holding in IDBI Bank as part of the state’s divestment process.<\/p>\n

The total 60.72% stake sale comprises a 30.48% stake from the government and a 30.24% stake from LIC.<\/p>\n

At the end of June the government held 45.48% of IDBI bank while LIC held 49.24%.<\/p>\n

Banks, foreign lenders, shadow banks, alternate investment funds and offshore funds have been allowed to place bids. However, large industrial and corporate houses and individuals are not eligible to bid.<\/p>\n

Bids can be submitted by single entities or as part of a consortium.<\/p>\n

In the three months to June 30, IDBI Bank made a net profit of 7.56 billion rupees, up from 6.03 billion rupees a year earlier.<\/p>\n

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)<\/i><\/p>\n<\/div>\n

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[ad_1] In the three months to June 30, IDBI Bank made a net profit of 7.56 billion rupees. (File) The Indian government is looking to sell a 60.72% majority stake in IDBI Bank and has invited expressions of interest, it said in a notification on Friday. State-owned Life Insurance Corporation of India will also be […]<\/p>\n","protected":false},"author":1,"featured_media":244185,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[12502,5301],"_links":{"self":[{"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/posts\/244184"}],"collection":[{"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/comments?post=244184"}],"version-history":[{"count":0,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/posts\/244184\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/media\/244185"}],"wp:attachment":[{"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/media?parent=244184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/categories?post=244184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/haftavasool.com\/haftavasool\/wp-json\/wp\/v2\/tags?post=244184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}