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LIC to be reclassified public shareholder in IDBI Bank after disinvestment
The New Indian Express Tiruchy
|August 25, 2025
The Securities and Exchange Board of India (Sebi) has cleared reclassification of the Life Insurance Corporation of India (LIC) as public shareholder in IDBI Bank, a move that paves the way for the lender's strategic disinvestment.
The approval, which comes with a set of conditions, will take effect once the transaction is completed.
In a regulatory filing on August 24, LIC said the Department of Investment and Public Asset Management (DIPAM) had informed it of Sebi's approval, received a day earlier. The decision is a crucial step in the government's plan to privatise IDBI Bank, which was cleared by the Cabinet Committee on Economic Affairs in May 2021.
Dit verhaal komt uit de August 25, 2025-editie van The New Indian Express Tiruchy.
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