Govt and LIC together to divest 60.72% stake in IDBI Bank

The Department of Investment and Public Asset Management on Friday invited expressions of interest (EoIs) from potential bidders for strategic divestment of specified government and LIC stakes in IDBI Bank along with transfer of management control. The government and LIC will together divest a 60.72% stake in the lender. Centre will divest a 30.48% stake while LIC will offload 30.24%.