Govt, LIC mull at least 51% stake sale in IDBI Bank
The government and life insurer LIC, which together own 94.71 per cent stake in IDBI Bank, are weighing in on selling at least 51 per cent stake in the lender, sources told.
A 51 per cent stake in IDBI Bank at the prevailing market capitalisation amounted to Rs 22,017 crore.
Earlier, reported that the centre had reached out to global buyout funds and financial institutions, such as the Carlyle Group, TPG Capital and Prem Watsa-controlled Fairfax Holdings, to gauge investor interest in buying majority stakes held directly by the government and LIC in the bailed-out lender.
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