IDBI stake sale: To help the buyer, centre asks Sebi to ease norms

The government offered to sell a total of 60.72% stake in the IDBI bank, in early October

The central government has asked the Securities and Exchange Board of India (Sebi) to ease the mandatory shareholding norm for the potential acquirer of IDBI Bank by treating the combined residual stake of the Life Insurance Corporation (LIC) and the government after the strategic sale as a part of the public float, according to Financial Express (FE). 

The report added that it will give the buyer sufficient time to expand the business and increase the bank's valuation. 

After the sale of the stake, LIC and the centre will together hold a 34 per cent stake in the IDBI Bank. As