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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.
LIC makes open offer to acquire 26% stake in IDBI Bank
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