Sebi allows govt stake in IDBI to be reclassified as public post sale
Mint Mumbai|January 06, 2023
India's market regulator has allowed the government's shareholding in IDBI Bank to be reclassified as "public" after its stake sale on condition that its voting rights do not exceed 15%, the lender said Thursday.
Sebi allows govt stake in IDBI to be reclassified as public post sale

The government, with over 45% stake in IDBI Bank, is classified as a co-promoter of the lender. The government is looking to sell its 30.48% stake in IDBI Bank, while statebacked LIC will offload its 30.24% share in the lender.

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