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