IDBI stake sale: 7 firms in transaction adviser shortlist
The government has kick-started the process of sale of its stake in IDBI Bank, where government shareholding is at 45.48%, LIC of India holds 49.24% and non-promoter shareholding is at 5.29%. The Cabinet Committee on Economic Affairs had given an in-principle approval for the strategic divestment of IDBI Bank in May this year, which includes giving up management control.
Indian bankers in talks as court rulings threaten over $6 billion in loansAny failure to recoup the money adds to stress in the banking sector, which is already dealing with an increased level of bad loans and reduced profits because of the impact of the pandemic.
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