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IDBI Bank enters into SPA with Muthoot Finance

IDBI Bank has amongst other parties entered Share Purchase Agreement (SPA) with Muthoot Finance (Buyer). IDBI Bank has agreed to sell its entire 66.67% equity shares in its subsidiary IDBI Asset Management and entire 100% equity shares in its subsidiary IDBI MF Trustee Company, to Muthoot Finance. Under the SPA along with IDBI Bank, IDBI Capital Markets & Securities also agreed to sell its entire 33.33% equity shares in its subsidiary IDBI Asset Management.

IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking platform with strong service orientation.

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