Home Business IDBI Bank Shares Zoom Over 9% As Govt Considers Stake Sale; Know Details

IDBI Bank Shares Zoom Over 9% As Govt Considers Stake Sale; Know Details

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IDBI Bank Shares Zoom Over 9% As Govt Considers Stake Sale; Know Details

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IDBI Bank Stake Sale:  Shares of IDBI Bank Ltd surged over 9 per cent to hit a four-month high of Rs 43.85 on BSE on Thursday morning after a Bloomberg report said that the government is planning to sell at least 51 per cent of the state-owned lender. The report also said officials in the government and state-owned LIC, which together own nearly 94 per cent stake in IDBI Bank, are discussing the quantum of shares to sell.

At 11.03 am, the stock was trading at Rs 43.85, up 9.35 per cent from its previous close. Since the start of June, the stock has advanced 46 per cent whereas so far this year it has declined 8 per cent.

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