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Last Updated : Dec 10, 2019 07:13 PM IST | Source: PTI

IDBI Bank to sell up to 49% shares in two subsidiaries, to retain controlling stake

IDBI Bank said it will retain controlling stake in the subsidiaries with itself.

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IDBI Bank will sell up to 49 per cent stake in its subsidiaries IDBI Capital Markets & Securities Ltd (ICMS) and IDBI Intech Ltd (IIL).

The board of directors of IDBI Bank has given in-principle approval to divest or dilute IDBI Bank's stake in its subsidiaries namely IDBI Capital Markets & Securities Ltd (ICMS) and IDBI Intech Limited (IIL) to the extent of 49 per cent to the prospective investors, the private sector lender said in a regulatory filing.

IDBI Bank said it will retain controlling stake in the subsidiaries with itself.

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Shares of IDBI Bank closed at Rs 33.50 on the BSE, down by 1.90 per cent from the previous close.
First Published on Dec 10, 2019 07:05 pm
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