IDBI Bank signs share purcharse agreement with Muthoot Finance

On 22 November 2019

IDBI Bank has amongst other parties entered a Share Purchase Agreement (SPA) with Muthoot Finance on 22 November 2019 where under IDBI Bank has agreed to sell its (a) entire 66.67% equity shares in its subsidiary IDBI Asset Management and (b) entire 100% equity shares in its subsidiary IDBI MF Trustee Company, to the Buyer.

Under the SPA along with IDBI Bank, IDBI Capital Markets & Securities has also agreed to sell its entire 33.33% equity shares in its subsidiary IDBI Asset Management.

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