Govt, LIC consider selling 51% stake of IDBI Bank: Reports

The central government and the Life Insurance Corporation (LIC), who together own about 94% of IDBI Bank's shares, are considering selling at least 51% of the bank's stake, according to reports. At the existing market capitalisation, 51% stake in IDBI Bank amounts to ₹22,017 crore. The government is also likely to keep some shares of the bank after the sale.