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BSE SENSEX
73,088.33
+599.34
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Corporate Announcement
Security Code
500116
Company
IDBI Bank Ltd
Exchange Received Time
06/08/2020 10:40:09
Exchange Disseminated Time
06/08/2020 10:40:19
Time Taken
00:00:10
Announcement under Regulation 30 (LODR)-Diversification / Disinvestment |
08/06/20 10:40
In addition to the information provided by IDBI Bank Limited on June 26th 2020 and in accordance with the provisions of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR Regulations), we hereby inform you that IDBI Bank Limited has entered a Share Purchase Agreement (SPA) with Ageas Insurance International NV (Buyer) and The Federal Bank Limited (Buyer) on August 5th, 2020 wherein IDBI Bank Limited has agreed to sell up to 27% stake in its joint venture arm IDBI Federal Life Insurance Company Limited to the aforesaid Buyers.
Detailed information in relation to the above, as required to be disclosed in terms of Regulation 30 read with Para A of Part A of Schedule III to the LODR Regulation is annexed
hereto as Annexure 1.
You are requested to kindly take the same on record.
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