Government of India invites bids for stake sale in IDBI Bank

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Government of India invites bids for stake sale in IDBI Bank

The Government of India (“GoI”) performing by Department of Investment and Public Asset Management (DIPAM), has engaged KPMG India Private Limited because the Transaction Advisor and Link authorized because the Legal Advisors for offering advisory companies and managing the transaction.

GoI presently holds 45.48% and Life Insurance Corporation of India (“LIC”) holds 49.24% of the full fairness share capital of the Bank. It has now been knowledgeable that pursuant to the strategic disinvestment of IDBI Bank (i) GoI shall promote such quantity of shares representing 30.48% (thirty decimal 4 eight p.c); and (ii) LIC shall promote such quantity of shares representing 30.24% (thirty decimal two 4 p.c), aggregating to 60.72% (sixty decimal seven two p.c) of the fairness share capital of IDBI Bank, together with switch of administration management in IDBI Bank.

The particulars about course of of transaction and different related particulars are given in the Preliminary Information Memorandum (PIM) which has been revealed on October 7, 2022 for inviting expression of curiosity (EOI) from the bidders and which might be downloaded from web sites of Department of Investment and Public Asset Management (DIPAM), LIC, IDBI Bank, Transaction Advisor KPMG and DFS.

Source : Equity Bulls

Keywords


IDBIBank
Divestment
StakeSale
GovernmentofIndia
LIC



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