IDBI announces 7 per cent disinvestment in NSDL
Tanay Loya / 07 Dec 2017
IDBI Bank announced that its board of directors has approved sale of 27,99,999 equity shares of National Securities Depository Ltd. (NSDL). The sale constitutes 7 per cent of NSDL’s total paid up equity capital and and reduces IDBI's stake in NSDL to 23 per cent.
IDBI Bank announced that its board of directors has approved sale of 27,99,999 equity shares of National Securities Depository Ltd. (NSDL). The sale constitutes 7 per cent of NSDL’s total paid up equity capital and and reduces IDBI's stake in NSDL to 23 per cent.
The move is a part of an exercise that the bank has initiated to exit from non-core businesses. Last month, the bank had announced plans to sell 1.5 per cent stake in the leading bourse National Stock Exchange (NSE).
At 15:28 hours, IDBI Bank was trading at Rs 59.55, up Rs 0.55, or 0.93 per cent on the NSE. The scrip opened at Rs 59.80 and touched a high and low of Rs 60 and Rs. 58.95, respectively. The stock attracted a traded volume of 30,43,824 shares on NSE. The market capitalisation of the company stands at Rs 3,128.71 crore.
The stock is expected to remain under pressure as its net NPA stood at Rs. 29,488 crore in September quarter, witnessing 62 per cent YoY increase.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.