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IDBI Bank as a part of exercise to exit from the non core business, will be selling 30% stake in NSDL e-Governance Infrastructure Ltd (NEGIL).
In a filing to the exchanges the bank stated, the “board of directors of IDBI Bank… have by way of circular resolution approved sale of 1,20,00,000 equity shares of NSDL e-Governance Infrastructure Ltd (NEGIL) constituting 30% stake held by the bank.”
Moreover, the board of the bank in the last month, has also approved divesting of 1.5% stake in National Stock Exchange (NSE).
