 "IDBI Bank gives in-principal nod to divest 7.4 mn shares held in NSE")
This is a part of exercise to exit from non-core business.
The board of IDBI Bank at its meeting held today granted in-principle approval to divest 74,15,680 equity shares, amounting to 1.5% stake, of the NSE held by the bank, it said in a filing to stock exchanges.
Last year, IDBI Bank sold 2% stake in NSE to the country's largest insurer LIC. The bank had sold 9 lakh equity shares constituting 2% of the paid-up capital of the NSE to LIC on March 30, 2016.
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