State-owned lender IDBI Bank on Tuesday said it will sell 30% stake in NSDL e-Governance Infrastructure (NEGIL).
This is a part of exercise to exit from non-core business.
The "board of directors of IDBI Bank... have by way of circular resolution approved sale of 1,20,00,000 equity shares of NSDL e-Governance Infrastructure Ltd (NEGIL) constituting 30% stake held by the bank", it said in a filing to stock exchanges.
Last month, IDBI Bank's board also approved sale of 1.5% stake in the leading bourse National Stock Exchange (NSE).
The bank had sold nine lakh equity shares constituting 2% of the paid-up capital of the National Stock Exchange to Life Insurance Corporation of India on March 30, 2016.
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