IDBI Bank to continue as 'Indian private sector bank' post strategic sale

The government and LIC together hold 94.72 per cent stake in IDBI Bank. The successful bidder would be required to make an open offer for acquisition of 5.28 per cent public shareholding. Pursuant to the transaction, the government will own 15 per cent stake and LIC 19 per cent shareholding in IDBI Bank, taking their total holding to 34 per cent.

from Banking/Finance-Industry-Economic Times https://ift.tt/3oaJfgH