Government, LIC to sell 60.72% stake in IDBI Bank

October 11, 2022

Government, LIC to sell 60.72% stake in IDBI Bank: The government and LIC will together divest a 60.72% stake in the IDBI Bank. The Centre will divest a 30.48% stake while LIC will offload 30.24%.

October 2022 Current Affairs Quiz

For this, the Department of Investment and Public Asset Management (DIPAM) has invited expressions of interest (EoIs) from potential bidders.

The potential investor should have a minimum net worth of ₹22,500 crore, must report net profit in three out of the past five years, will be eligible for bidding.