Small Industries Development Bank of India (Sidbi) will come out with a plan in the next 2-3 weeks to unlock the value of its shareholders. | |
| "We are currently working on to unlock the shareholders value, but it will take another 15-20 days to come out with a concrete plan," Sidbi Chairman and Managing Director N Balasubramanian said. |
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| Industrial Development Bank of India (IDBI) holds 19.21 per cent stake in the company, while the rest are held by banks, financial institutions and insurance companies owned and controlled by the Union government. |
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| Industry sources said Sidbi can unlock shareholders value by getting its shares enlisted in the market or through rights issue or private placement. |
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| Established in April, 1990 under the The Small Industries Development Bank of India Act, 1989, Sidbi was aimed to be the principal financial institution for the promotion, financing and development of industry in the small scale sector. |
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| "We, however, need to receive approvals from the Union government as well as from the Reserve Bank of India before going ahead with the plan," Balasubramanian said. |
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