Lic Idbi Deal

Fairfax leads race to acquire majority stake in IDBI Bank from govt, LIC

Fairfax has moved ahead in the race to buy a majority stake in IDBI Bank, with Kotak Mahindra Bank still in the fray as the government and LIC prepare to finalise bids for the lender's sale

IDBI assets manager to merge with LIC MF, clear path to latter's mega IPO

Following the merger, IDBI AMC, which currently has assets under management (AUM) of Rs 4,344 will cease to exist.

IDBI Bank to get Rs 9,300-crore capital infusion from promoters

This is the first time the government has decided to pump money in IDBI Bank after LIC acquired a majority stake of 51 per cent in the bank - a process completed in January

LIC makes open offer to acquire additional 26% stake in IDBI Bank

An open offer is mandatory pursuant to Sebi regulations as it gives an exit route to shareholders, including retailers, to monetise their holding in a company

IDBI Bank gets Sebi green light to issue preference shares to LIC

The letter also states that the above approval is subject to the bank obtaining due approvals of its shareholders, RBI and the govt

Irdai will set timeline for LIC to scale-down stake to 15% in IDBI Bank

In August, the cabinet approved LIC's proposed acquisition of up to 51 per cent stake in the IDBI Bank

LIC unlikely to offer any premium for shares of debt-laden IDBI Bank

Life Insurance Corporation of India (LIC) is unlikely to offer any premium for shares of IDBI Bank, say sources.The bank's board of directors will seek shareholder approval for preferential allotment of a 14.9 per cent equity stake to LIC.The insurance behemoth is also expected to approach the Securities and Exchange Board of India (Sebi) and seek an exemption from making an open offer to minority shareholders after the said allotment. Both matters will be taken up by the insurer at its September 4 board meeting. Sources say LIC is in the final stage of price discovery, in line with the Sebi formula which considers 26 weeks' weighted average market price. LIC expects the deal to be closed in the next two months. "Shares of IDBI Bank have gained close to 25 per cent since the deal was announced, thanks to the excessive speculative trading on hope of a turnaround with a stronger promoter. The intention behind this acquisition is to revive the ailing lender. Hence, the question of ...

RBI gives in-principle nod to LIC for acquiring majority stake in IDBI Bank

The Cabinet nod is required because the government's stake will be diluted below 51 per cent in IDBI Bank

LIC to complete 51% acquisition of debt-ridden IDBI Bank by September

The insurance behemoth LIC also intends to make an open offer to minority shareholders of IDBI Bank

In RBI's court

LIC-IDBI Bank deal raises many questions

LIC-IDBI deal: Premium money of citizens can't be used to fill fiscal gaps

The fact that LIC has gross assets of more than Rs 27 trillion does not give the real picture of its financial health as it has to take care of corresponding liabilities too

LIC lost money in 18 out of 21 public sector bank shares in last 2.5 years

Insurer has also made fresh investments since December 2015 quarter when RBI told banks to recognise bad loans

LIC deal may be a game changer for IDBI Bank; capital adequacy to get boost

The results of the deal are visible as IDBI's stock surged about 12 per cent during Friday's trading session with an expected nod from the Irdai to LIC for 51 per cent stake in the bank

LIC to buy stake in IDBI: When the FSDC was found missing in action

The FSDC has been the weakest body populating the financial sector and needs to be taken apart