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IDBI Bank surges on getting nod to divest entire stake held in IAML, IMTL

IDBI Bank is currently trading at Rs. 34.10, up by 1.30 points or 3.96% from its previous closing of Rs. 32.80 on the BSE.

The scrip opened at Rs. 33.80 and has touched a high and low of Rs. 34.35 and Rs. 33.80 respectively. So far 23449 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. 35.85 and Rs. 32.10 respectively. The current market cap of the company is Rs. 34930.70 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 an approval for sale of entire stake of the Bank in IDBI Asset Management (IAML) and IDBI Mutual Fund Trustee Company (IMTL) and execution of Share Purchase Agreement in this regard. The Board of Directors of the Bank at its meeting held on November 8, 2019, 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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