LiC going to buy ..... percent in IDBI bank(mumbai)

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

LiC going to buy ____ percent in IDBI bank(mumbai)

A	8
B	25
C	26
D	27
E	51

Explanation:

Detailed explanation-1: -Public shareholders hold 5.28 per cent. LIC had bought a 51 per cent stake in IDBI Bank in 2019 for Rs 21, 624 crore at an average price of Rs 61 per share.

Detailed explanation-2: -Dutch banking group ING is planning to return to India by buying a controlling stake in the state-owned lender IDBI Bank, The Economic Times reported On Wednesday.

Detailed explanation-3: -LIC completed the takeover of IDBI Bank, the sponsor of IDBI Mutual Fund, in January 2019. However, LIC has its own asset management company, LIC Mutual Fund, under the Securities and Exchange Board of India (Sebi) rules.

Detailed explanation-4: -LIC had bought a 51% stake in IDBI Bank in 2019 for ₹21, 624 crore at an average price of ₹61 per share. Following a QIP issue in December 2020, the stake of LIC came down to 49%. Besides, the government and LIC together infused ₹9, 300 crore in IDBI Bank to bring it out of RBI’s Prompt Corrective Action (PCA) framework.

There is 1 question to complete.