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idbi.com

Founded Year

1964

Stage

PIPE | IPO

Market Cap

338.70B

About IDBI Bank

IDBI Bank is a Universal Bank with its operations driven by a cutting edge core Banking IT platform. The Bank offers personalized banking and financial solutions to its clients in the retail and corporate banking arena through its large network of Branches and ATMs, spread across length and breadth of India. The Bank has also set up an overseas branch at Dubai and have plans to open representative offices in various other parts of the Globe, for encashing emerging global opportunities. IDBI Bank's experience of financial markets will help us to effectively cope with challenges and capitalize on the emerging opportunities by participating effectively in its country's growth process.

IDBI Bank Headquarter Location

IDBI Tower, WTC Complex Cuffe Parade, Colaba

Mumbai, 400 005,

India

(+91-22) 6693 7000

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Latest IDBI Bank News

Centre to meet SEBI officials today on IDBI Bank disinvestment

Jun 22, 2022

Centre to meet SEBI officials today on IDBI Bank disinvestment  Sources also say that India-born Canadian billionaire Prem Watsa may evince interest in IDBI Bank. As a public sector bank, IDBI Bank is currently exempted from this SEBI norm, but once it becomes a private bank, it may lose the same. Updated Jun 22, 2022, 11:01 AM IST The centre is accelerating its plan on disinvestment of IDBI Bank in the current fiscal year. Sources tell Business Today Television that a crucial meeting is being held today between senior officials of SEBI and the Department of Investment and Public Asset Management (DIPAM) in New Delhi. "We have various issues to discuss, especially on minimum public shareholding and exemption of open offers", said a source. Under the SEBI's minimum public shareholding norms, listed entities with a valuation of over one lakh crore need to have at least 25 per cent public shareholding within five years of listing. The government had last year exempted public sector entities from this norm. As a public sector bank, IDBI Bank is currently exempted from this SEBI norm, but once it becomes a private bank, it may lose the same. Centre is also hoping to soon conclude ongoing discussions with the Reserve Bank of India on IDBI Bank. "We are discussing the structure of dilution, glide path, consortium and maximum public equity that can be offered. Some feedback has been received from investors. We also need a reconciliation on RBI's private bank ownership rules, with the initial lock-in requirements of holding a minimum 40 per cent stake by promoters in private banks." said a source. The DIPAM is also ascertaining whether the two regulators can arrive at a common timeline of over five years for the strategic investor in IDBI Bank to dilute its stake to comply with the listing norms as well as the RBI rules on promoter holdings in private sector banks. The government holds a 45.48 per cent stake in IDBI Bank, while LIC holds 49.24 per cent. "Complete dilution of government stake is not necessary. It will depend on the nature of agreement we have on IDBI Bank. People won't mind if LIC retains some share in IDBI Bank. Our focus is on equity and management control. If at all government retains, it will be in its own financial interest to take the upside," the sources added. Sources also say that India-born Canadian billionaire Prem Watsa may evince interest in IDBI Bank. Fairfax India Holdings, the investment arm led by Watsa is said to have held initial talks with Finance Ministry officials on the matter. TAGS:

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  • When was IDBI Bank founded?

    IDBI Bank was founded in 1964.

  • Where is IDBI Bank's headquarters?

    IDBI Bank's headquarters is located at IDBI Tower, WTC Complex, Mumbai.

  • What is IDBI Bank's latest funding round?

    IDBI Bank's latest funding round is PIPE.

  • Who are the investors of IDBI Bank?

    Investors of IDBI Bank include Life Insurance Corporation of India.

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