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IDBI Bank has gained around 2% to Rs 72.55 in BSE after receiving approval from its Board of Directors to divest its stake in Credit Analysis & Research (CARE).
The Bank can now sell its shareholding of 48,18,292 equity shares in CARE in part or whole, subject to compliance with all applicable laws, regulations and guidelines. The propose sale of shares would be made in one or more tranches, according to IDBI's statement to BSE.
Other key shareholders in CARE are Canara Bank, IL&FS, SBI and Bajaj Holdings.
The stock opened at Rs 73 and has hit a high of Rs 73 till 10:05 hrs while around 12 lac shares have changed hands on BSE and NSE combined, so far.
