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Sebi Approval for LIC as IDBI Bank Public Shareholder After Divestment
Business Standard
|August 25, 2025
Capital markets regulator Securities and Exchange Board of India (Sebi) has given green light to classify Life Insurance Corporation of India (LIC) as a public shareholder of IDBI Bank for its residual stake on completion of strategic divestment in the lender.
The reclassification as public shareholder is subject to fulfilling the conditions relating to the transaction. Mumbai-based IDBI Bank, in a filing with BSE, said the Department of Investment and Public Asset Management (Dipam) informed that Sebi has approved reclassification of LIC as public shareholder. One of the conditions that LIC would have to fulfil is that its voting rights shall not exceed 10 per cent
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