Latest Bond issue

IDBI Bank has agreed to do a preferential issue of equity shares to LIC for an approx. amount of Rs. 848 crores (approval from Board and shareholders received for an amount of upto Rs. 1500 crores). Post this allotment LIC’s stake has increased to ~14.4% from 7.25% as on Dec 2015  (Government of India and LIC together now hold ~88.4%).


The issue of equity shares has been completed before March 31, 2016. Post this transaction, IDBI Bank is likely the 2nd largest bank holding for LIC.





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