Thursday , October 28 2021

IDBI Bank soars on getting in-principle approval to divest stake in subsidiaries

IDBI Bank is currently trading at Rs. 34.00, up by 0.50 points or 1.49% from its previous closing of Rs. 33.50 on the BSE.

The scrip opened at Rs. 33.90 and has touched a high and low of Rs. 34.45 and Rs. 33.80 respectively. So far 62332 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 65.80 on 09-Jan-2019 and a 52 week low of Rs. 23.55 on 23-Aug-2019.

Last one week high and low of the scrip stood at Rs. 36.65 and Rs. 33.20 respectively. The current market cap of the company is Rs. 35242.12 crore.

The promoters holding in the company stood at 97.46%, while Institutions and Non-Institutions held 0.24% and 2.31% respectively.

IDBI Bank has received in-principle approval to divest / dilute its stake in its subsidiaries namely IDBI Capital Market Securities (ICMS) and IDBI Intech (IIL) to the extent of 49% to the prospective investors and retaining controlling stake with the Bank. The Board of Directors of the bank at its meeting held on December 10, 2019 has approved the same.

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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