Transaction Advisors for IDBI Bank Stake Sale can Submit Bids till July 22

The department Friday clarified that government and LIC of India intend to sell their full stakes, with an open offer also possible as per Sebi guidelines, but the quantum of stake will be decided before the request for proposal stage. "In the instant transaction there will be divestment of GoI and LIC shareholding in IDBI Bank along with transfer of management control. The open offer can be triggered as per Sebi's regulations in this regard," the department said.

via Economictimes