LIC keen to retain some stake in IDBI Bank for bancassurance gains: Chairman

Life Insurance Corporation (LIC) will divest its stake in IDBI Bank, but may not exit completely, LIC chairman MR Kumar said. IDBI Bank became a subsidiary of LIC with effect from January 21, 2019, following the acquisition of an additional 82,75,90,885 equity shares. LIC had bought a 51 per cent stake in IDBI Bank for Rs 21,624 crore at an average price of Rs 61 per share. https://ift.tt/zD14Zp9