Stock Market

MUMBAI: Life Insurance Corporation of India will soon buy 7 per cent equity in IDBI Bank through a preferential share issue, taking its total exposure to 14.9 per cent, as a first step in taking majority stake in the state-owned bank. IDBI Bank’s board of directors will consider the proposal for seeking shareholders’ approval through postal ballot for preferential issue to the state-owned insurer on August 31, the bank said in a filing to the Bombay Stock Exchange (BSE) on Tuesday. IDBI Bank on Tuesday received a letter from LIC giving its in-principle approval for subscription of the equity shares not exceeding 14.90 per cent of post-issue capital of IDBI Bank at any point of time, the bank said in the filing.





Unlimited Portal Access + Monthly Magazine - 12 issues-Publication from Jan 2021


Buy Our Merchandise (Peace Series)

 


Contribute US to Start Broadcasting



It's Voluntary! Take care of your Family, Friends and People around You First and later think about us. Its Fine if you dont wish to contribute and if you wish to contribute then think about the Homeless first and Feed them. We can survive with your wishes too :-). You can Buy our Merchandise too which are of the finest quality.

Debit/Credit/UPI

UPI/Debit/Credit

Paytm


STRIPE





21