IDBI Bank Share: IDBI shares got a bumper jump of 12 percent
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Why IDBI Bank shares rose
The Reserve Bank of India (RBI) has started evaluating the bids of potential buyers showing interest in buying a majority stake in IDBI Bank. After this news came to the fore, there was a sudden jump in the shares of IDBI Bank. During the market closure, IDBI Bank shares closed at Rs 52.80, up 12.10 per cent. The market capitalization of the bank has reached around Rs 55.57 thousand crore.
This company is going to sell electricity to the government, investors rush to buy shares, stock running like a rocket
Bids were invited in October
The Department of Investment and Public Asset Management, under the Finance Ministry, had invited bids in October to sell 30.24 per cent stake of LIC and 30.48 per cent of the government in IDBI Bank. Explain that the government and LIC hold 94.71 percent stake in IDBI Bank. Both are selling their stake.
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