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LIC to be reclassified as public shareholder in IDBI Bank
Orissa POST
|August 25, 2025
In an important step towards the privatisation of IDBI Bank, the Securities and Exchange Board of India (SEBI) has approved the reclassification of the Life Insurance Corporation of India (LIC) as a public shareholder, the bank informed stock exchanges.
This means LIC will now be treated like any other public investor in IDBI Bank. As per SEBI’s rules, LIC’s voting rights in the bank will be limited to 10 per cent of the total voting power.
"The voting rights of LIC shall not exceed 10 per cent (ten per cent) of the total net effective voting rights of the IDBI Bank," the company said in its regulatory filing.
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