IDBI Bank board nods divestment of stake in IFLI. Stk up

IDBI Bank board nods divestment of stake in IFLI. Stk up

by admin- Monday, June 29th, 2020 04:17:14 PM

Shares of IDBI Bank rose almost 5% to Rs. Forty one.75, as board of directors, at its meeting held on June 26, 2020, has authorised to promote IDBI Bank’s stake in IDBI Federal Life Insurance Company Ltd (IFLI) to the volume of 23% to Ageas and four% to Federal Bank at a mixed value of approximately Rs. 595 crore, difficulty to all regulatory approvals to be taken by means of all related events and agreements which might be but to be finalised.

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