LIC to be classified as public shareholder in IDBI Bank
Mumbai: Life Insurance Corporation of India (LIC), which stepped in to rescue IDBI Bank by acquiring a controlling stake in 2019 and currently owns half of it, will be reclassified as a public shareholder once the lender’s strategic disinvestment is completed. The Securities and Exchange Board of India (Sebi) cleared the reclassification, said the Department…