Business|Economic Times|Mar 17
Divestment jolt hits IDBI Bank as shares extend decline to 30% in a month. Buy, sell or hold?
IDBI Bank shares plunged more than 17% on Monday, extending their one-month decline to nearly 30%, after The Economic Times reported that the government’s strategic stake sale in the lender could stall because the financial bids received were reportedly below the floor price set for the deal. 5 crore shares traded on the exchange during the session, the NSE data revealed. Market regulator Securities and Exchange Board of India (Sebi) approved the reclassification of GOI as public shareholder upon completion of the sale on January 5, 2023.
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