State-owned lender IDBI Bank on Tuesday said it will sell 30% stake in NSDL e-Governance Infrastructure Ltd (NEGIL).
This is part of an exercise to exit from non-core business. The “board of directors of IDBI Bank… have by way of the circular resolution approved sale of 1,20,00,000 equity shares of NEGIL constituting 30% stake held by the bank”, it said in a filing to stock exchanges.
Last month, IDBI Bank’s board also approved sale of 1.5% stake in the leading bourse National Stock Exchange (NSE). The bank had sold 9 lakh equity shares constituting 2% of the paid-up capital of the NSE to LIC on 30 March 2016.
Source: Mint