IDBI Bank is currently trading at Rs. 39.60, up by 0.65 points or 1.67% from its previous closing of Rs. 38.95 on the BSE.
The scrip opened at Rs. 38.95 and has touched a high and low of Rs. 40.20 and Rs. 38.80 respectively. So far 199758 shares were traded on the counter.
The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 55.75 on 07-Jul-2020 and a 52 week low of Rs. 17.50 on 13-Mar-2020.
Last one week high and low of the scrip stood at Rs. 40.70 and Rs. 37.95 respectively. The current market cap of the company is Rs. 40899.54 crore.
The promoters holding in the company stood at 98.11%, while Institutions and Non-Institutions held 0.15% and 1.74% respectively.
IDBI Bank has entered into a Share Purchase Agreement (SPA) with Ageas Insurance International NV (Buyer) and The Federal Bank (Buyer) on August 5, 2020 wherein IDBI Bank has agreed to sell up to 27% stake in its joint venture arm IDBI Federal Life Insurance Company (IFLI) to the aforesaid Buyers.
As per said agreement, while 23% stake would be sold to Ageas, Federal Bank would acquire up to 4% stake in IFLI from IDBI Bank. The transaction would be concluded subject to regulatory approvals.
IDBI Bank is the youngest, new generation public sector universal bank that rides on a cutting edge Core Banking platform with strong service orientation.
