Board of Federal Bank approves hike in stake in IDBI Federal Life Insurance Co
On 20 April 2020
The Board of Federal Bank on 20 April 2020 has approved in principle to purchase additional stake of up to 4% in the equity capital of IDBI Federal Life Insurance Co (IFLIC) from IDBI Bank, subject to price finalization and all relevant regulatory approvals. Bank currently holds a 26% stake in IFLIC, making it an Associate of the Bank. Post purchase the total stake may increase up to 30%.Powered by Capital Market - Live News
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