LIC’s open offer for IDBI Bank from Dec 3

New Delhi: LIC's open offer to purchase shares from the minority shareholders of IDBI Bank will kick-start from December 3, IDBI Bank said Thursday.

The open offer, at Rs 61.73 per equity share, will close on December 14.
LIC has offered to acquire 2,04,15,12,929 equity shares, representing 26 per cent of the fully paid-up equity capital of IDBI Bank as per the open offer process in accordance with Sebi regulations, IDBI Bank said in a regulatory filing.

The open offer is in connection with the LIC's acquisition of 51 per cent controlling stake in the state-owned IDBI Bank.