IDBI Bank To Raise Rs 1,500 cr By Selling 28 cr Shares To LIC

State-owned IDBI Bank proposes to offer about 28 Cr. shares
at Rs 53.44 apiece to LIC on preferential basis to raise Rs 1,500 Cr. the bank
board approved the proposal for preferential issue of capital to Life Insurance
Corporation of India, aggregating up to Rs 1,500 crore (inclusive of premium
amount) subject to Government of India’s approval.

Indian market regulator
Sebi’s approval to raise Rs 3,771 cr. through issue of shares to qualified
institutional players
, a move which would dilute the government’s holding
significantly in the lender.

India largest insurance company LIC and various other
schemes currently hold 7.25 percent stake in IDBI Bank. The bank also got
approval for raising up to USD 500 million through tier 1 bonds
Extra info:
-LIC introduces third gender option in its proposal form;
move cleared by IRDA
-IDBI Bank market regulator to raise Rs 3,771 cr. through
issue of shares to qualified institutional  playersa (QIP).
So lets do:
1- Who is the chairman of IDBI Bank?
2- Who is current LIC CMD ?

Source-business-standard
×

Download success!

Thanks for downloading the guide. For similar guides, free study material, quizzes, videos and job alerts you can download the Adda247 app from play store.

Thank You, Your details have been submitted we will get back to you.

Leave a comment

Your email address will not be published. Required fields are marked *

Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizes
  • Subject-Wise Quizes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Login

OR

Forgot Password?

Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizes
  • Subject-Wise Quizes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Sign Up

OR
Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizes
  • Subject-Wise Quizes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Forgot Password

Enter the email address associated with your account, and we'll email you an OTP to verify it's you.


Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizes
  • Subject-Wise Quizes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Enter OTP

Please enter the OTP sent to
/6


Did not recive OTP?

Resend in 60s

Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizes
  • Subject-Wise Quizes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Change Password



Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizes
  • Subject-Wise Quizes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Almost there

Please enter your phone no. to proceed
+91

Join India's largest learning destination

What You Will get ?

  • Job Alerts
  • Daily Quizes
  • Subject-Wise Quizes
  • Current Affairs
  • Previous year question papers
  • Doubt Solving session

Enter OTP

Please enter the OTP sent to Edit Number


Did not recive OTP?

Resend 60

By skipping this step you will not recieve any free content avalaible on adda247, also you will miss onto notification and job alerts

Are you sure you want to skip this step?

By skipping this step you will not recieve any free content avalaible on adda247, also you will miss onto notification and job alerts

Are you sure you want to skip this step?