You are here: Home » Markets » News
Business Standard

IDBI Bank to sell 30% stake in NEGIL to exit non core business

Last month, IDBI Bank's board also approved sale of 1.5 per cent stake in the leading bourse National Stock Exchange (NSE).

Press Trust of India  |  New Delhi 

IDBI
IDBI Bank

State-owned lender today said it will sell 30 per cent stake in e-Governance Infrastructure Ltd (NEGIL). This is a part of exercise to exit from non-core business. The "board of directors of .. have by way of circular resolution approved sale of 1,20,00,000 equity of e-Governance Infrastructure Ltd (NEGIL) constituting 30 per cent stake held by the bank", it said in a filing to stock exchanges. Last month, IDBI Bank's board also approved sale of 1.5 per cent stake in the leading bourse (NSE). The had sold 9 lakh equity constituting 2 per cent of the paid-up capital of the to LIC on March 30, 2016.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Tue, December 12 2017. 12:50 IST
RECOMMENDED FOR YOU