SEBI allows Centre's stake in IDBI Bank to be reclassified as 'public' after sale
The market regulator has also directed the new buyer to comply with minimum public shareholding norms within one year of the sale.
The market regulator has also directed the new buyer to comply with minimum public shareholding norms within one year of the sale.
Tuhin Kanta Pandey says the Centre is preparing an expression of interest, following which preliminary bids will be invited from investors.
Govt holds a 45.48% stake in IDBI Bank, while 49.24% is owned by LIC, accounting for about 94% shareholding in the bank. Both parties could sell a partial stake