Life Insurance Corporation of India (LIC) has increased its stake in state-owned lender IDBI Bank from 7.21% to 14.37%.
The bank has transferred the 7.16% stake or 158 million equity shares on a preferential basis to LIC.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The share allotment forms part of the bank’s move to trim government stake in the bank. The government currently owns a 72% stake in the bank, down from over 80% earlier.
The stake increase by LIC will make the life insurer the second largest shareholder of the bank after the government.
GlobalData Strategic Intelligence
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
