IDBI Bank jumps 8%; Cabinet to soon consider govt's 45.5% stake sale in lender, says report
Updated : April 13, 2021 12:15:35 IST
Shares of IDBI Bank rose 8 percent on Tuesday on a media report that the Union Cabinet will soon consider a proposal to divest the government's 45.5 percent stake in the lender.
The government will also consult LIC, which owns 49.2 percent of IDBI Bank, before beginning the stake sale process, added the report.
Last month, the Reserve Bank of India (RBI) took the lender out of the Prompt Corrective Action framework.
Published : April 13, 2021 12:15 PM IST