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    HomeNewsBusinessIDBI Bank divests entire 19.18% stake in ARCIL

    IDBI Bank divests entire 19.18% stake in ARCIL

    IDBI Bank on Wednesday said it has divested its entire stake of over 19% in ARCIL to Avenue India Resurgence Pte.

    PTI
    May 18, 2022 / 22:30 IST

    IDBI Bank on Wednesday said it has divested its entire stake of over 19% in ARCIL to Avenue India Resurgence Pte. The lender, however, did not disclose the deal value.

    "…IDBI Bank has sold its entire holding of 6,23,23,800 fully paid-up equity shares constituting 19.18% of the total equity share capital of Asset Reconstruction Company (India) Ltd. (ARCIL) on May 18, 2022 to Avenue India Resurgence Pte. Ltd," IDBI Bank said in a regulatory filing. With this, the LIC-controlled lender said it ceases to be a sponsor shareholder of ARCIL.

    Stock of IDBI Bank closed 0.39% down at Rs 38.10 apiece on BSE.

    PTI
    first published: May 18, 2022 10:28 pm

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