IDBI’s plan to sell stake in Sidbi is part of its overall strategy to sell non-core assets to raise capital. Photo: Pradeep Gaur/MintMumbai: State-owned lender IDBI Bank has sought fresh bids for acquiring the remaining 13.71% stake in Small Industries Development Bank of India (Sidbi). IDBI Bank is the second largest shareholder in Sidbi after State Bank of India, which owns 16.73%. IDBI’s plan to sell stake in Sidbi is part of its overall strategy to sell non-core assets to raise capital. The bank is aiming to garner around Rs5,000 crore in this financial year through sale of non-core assets, IDBI Bank chief Mahesh Kumar Jain had said in June.

Source: Mint September 08, 2017 07:41 UTC