Centre seeks waiver in key norm for IDBI Bank stake sale

Earlier this month, India invited bids for a 60.72% stake in IDBI Bank -- which is 45.48% owned by the government and 49.24% by state-owned Life Insurance Corp (LIC) -- after dragging its feet for years. SEBI, India's capital markets regulator, mandates a minimum 25% of public shareholding for all listed entities, excluding state-owned companies, within three years of listing.

from Banking/Finance-Industry-Economic Times https://ift.tt/x4joCq0