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LIC board to meet on Tuesday to decide IDBI Bank stake hike plan

Updated : September 03, 2018 12:24:04 IST

The LIC board will discuss the timeline for the open offer, board-level appointments and future strategy for revitalising IDBI Bank.
The board will also authorise Life Insurance Corporation of India (LIC) to appoint a merchant banker and a legal advisor to carry out the acquisition process.
The board will also ask the insurer to do due diligence of the bank and then proceed for various regulatory clearances, sources added.
LIC board to meet on Tuesday to decide IDBI Bank stake hike plan
Published : September 03, 2018 12:24 PM IST

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