SEBI says IDBI can sell unlisted shares beyond QIBs

SEBI has clarified that IDBI Bank can sell its unlisted equity holdings to non-institutional buyers through private bilateral deals. The exemption applies if sales of shares in any one company are limited to 200 investors in a financial year. IDBI had sought clarity after an advisory urged public sector banks to sell such holdings only to Qualified Institutional Buyers QIBs.