Latest News | IDBI Bank Divests Entire 19.18 Pc Stake in ARCIL
Get latest articles and stories on Latest News at LatestLY. IDBI Bank on Wednesday said it has divested its entire stake of over 19 per cent in ARCIL to Avenue India Resurgence Pte.
New Delhi, May 18 (PTI) IDBI Bank on Wednesday said it has divested its entire stake of over 19 per cent in ARCIL to Avenue India Resurgence Pte.
The lender, however, did not disclose the deal value.
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"...IDBI Bank has sold its entire holding of 6,23,23,800 fully paid-up equity shares constituting 19.18 per cent of the total equity share capital of Asset Reconstruction Company (India) Ltd. (ARCIL) on May 18, 2022 to Avenue India Resurgence Pte. Ltd," IDBI Bank said in a regulatory filing.
With this, the LIC-controlled lender said it ceases to be a sponsor shareholder of ARCIL.
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Stock of IDBI Bank closed 0.39 per cent down at Rs 38.10 apiece on BSE.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)