IDBI Bank privatisation: LIC to recover its investment by time of sale

The successful bidder would be required to mandatorily lock-in at least 40 per cent of the equity capital for 5 years from the date of acquisition. It further said that the selection of the qualified interested parties and the amount of equity stake of such entities in IDBI Bank would be decided by the Reserve Bank and the bidder would have to clear the 'fit and proper' assessment done by the banking regulator.

from Banking/Finance-Industry-Economic Times https://ift.tt/3Xzxu61