The government will not have any board seats or participate in the management...

Centre is reportedly not willing to extend December 16 deadline for submission of bids...

Bank is valued at Rs 47,633 crore but govt is looking for at least a 30 per cent markup in the sale...

RBI guidelines allow industrial houses to hold a maximum of 10 per cent stake inprivate sector banks, but they cannot be a promoter...

At present, Life Insurance Corporation holds a 49.24 per cent stake in the bank, while govt has a 45.48 per cent stake...

Centre holds 45.5 per cent of the bank and Life Insurance Corporation of India owns 49.24 per cent...

After the acquisition, the shareholding of Ageas increased from 49 per cent to 74 per cent...

This is expected to speed up the stake sale by the Government of India and Life Insurance Corporation of India in the lender...

Shares of IDBI Bank ended with gains of nearly three per cent at Rs 40.15 on the news...

Auditors V. Singhi & Associates noted that the company was unable to meet its financial commitments to lenders and various stakeholders...