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Officials detailed post-deal board composition and stake norms for the IDBI Bank strategic sale, including government and LIC stake reduction and open offer rules
By ScoutQuest · · 1 min read
- Government post-deal stake cap
- 15%
- LIC additional stake to sell
- 4%
- Minority shareholders eligible for open offer
- 5.3%
Heard on business television between 16:18:04 - 16:21:04 IST.
- Government will become a public shareholder post-deal, holding not more than 15% equity and no board seat, with no role in day-to-day management.
- LIC will be required to bring its stake down to 15% within two years, meaning it must sell an additional 4% equity stake in the open market.
- This stake sale by LIC is expected to benefit small shareholders and enhance share float, helping stabilize prices.
- The deal will trigger an open offer to the 5.3% minority shareholders by the strategic buyer, as per SEBI regulations and the share purchase agreement.
- Government cannot participate in the open offer as per regulations; minority shareholders' participation in the open offer is voluntary.
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Source: Live TV News Channel · 15 Oct 2026
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