Finance LIC makes open offer to acquire 26% stake in IDBI Bank Updated : December 19, 2018 06:59 AM IST The open offer has been made at a price of Rs 61.73 a share, which is in connection with LIC's acquisition of 51 percent controlling stake in IDBI Bank. An open offer is mandatory pursuant to Sebi regulations as it gives an exit route to shareholders, including retailers, to monetise their holding in a company. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.