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INDIA'S IDBI DISCUSSES IDBI BANK SHARE SALE WITH LOCAL COS.
MUMBAI, June 3 Asia Pulse - The Industrial Development Bank of India (BSE:IDBI) is in discussion with 2 foreign investors on the possible sale of least 20 per cent of its shares IDBI Bank (BSE:IDBK) to either or both of the companies.
"We are in advanced stage of negotiations with both the foreign investors to bring down our stake from 58 per cent to either 44 per cent or 40 per cent and a clear picture should emerge by January 2003", IDBI chairman and managing director P P Vora told reporters here.
He said earlier the FI had set a deadline of September 2002 for completion of divestment of its stake to a strategic partner, which has now been extended.
However, Vora explicitly ruled out the merger of IDBI with IDBI Bank stating that the move was not on the ...
- IDBI Bank-IDBI swap ratio pegged at 1.42:1.
- News wire article from: Asia Africa Intelligence Wire January 21, 2005 700+ words
...now in place. The shareholders of IDBI Bank will get 100 shares of IDBI for every...they hold. Approving the merger of IDBI Bank with the IDBI, the respective boards...share exchange ratio of 1:1.42. IDBI Bank is a subsidiary of IDBI, the erstwhile...
- IDBI: Bank on the Bank.
- News wire article from: Asia Africa Intelligence Wire November 14, 2004 700+ words
(From Business Line) Buy IDBI Bank shares INVESTORS desirous of fresh...consider investing in the stock of IDBI Bank, which is to be merged with the former. Given the performance of IDBI Bank and the expected swap ratio, investing...
- Post-merger, IDBI Bank will be a separate SBU.
- News wire article from: Asia Africa Intelligence Wire July 30, 2004 700+ words
...Times) : Once the merger between IDBI Bank and IDBI is through, the erstwhile IDBI Bank will be kept as a separate strategic...unit, which will be the erstwhile IDBI Bank. Attempts to make the integration...
- IDBI, Bank merger ruled out.
- News wire article from: Asia Africa Intelligence Wire April 21, 2003 700+ words
...India (IDBI) with its sibling, IDBI Bank Ltd. The Ministry of Finance has also ruled out a reverse merger of IDBI Bank with IDBI. The talk of a merger...be required to snap its links with IDBI Bank on the way. The ruling out of the...
- Idbi, Idbi Bank swap ratio at 4:9 likely.
- News wire article from: Asia Africa Intelligence Wire December 25, 2004 700+ words
...ratio of 4:9 in the merger between Idbi Bank and Idbi would be required if the...in the new entity. This means, Idbi Bank holders will get nine shares of Idbi...recently said the due-diligence on Idbi Bank's merger with Idbi is slated to...
- India: IDBI Bank opens its 97th banking office in Kolkata.
- News wire article from: Asia Africa Intelligence Wire June 19, 2003 700+ words
...The Asian Banker Journal) A new idbi bank branch was inaugurated in Dum Dum...branches and 10 ATMs in Kolkata . idbi bank in Dum Dum is all set to offer a...special current accounts offered by idbi bank- Business special and Business Premium...
- India: IDBI Bank launches online instable mobile ATM service.
- News wire article from: Asia Africa Intelligence Wire June 19, 2003 700+ words
...From The Asian Banker Journal) idbi bank launched the country's first of...Bimbhet- Country Head Retail Banking, idbi bank said, "This is yet another first from idbi bank. We just launched an innovative...
- IDBI Bank shortlists seven potential buyers for IHFL sale.
- News wire article from: PTI - The Press Trust of India Ltd. December 17, 2008 700+ words
IDBI Bank shortlists seven potential buyers for IHFL...Mumbai, Dec 17 (PTI) Government-owned IDBI Bank hopes to sell its Pune-based wholly owned...as potential buyers for the deal, a top IDBI bank official said today. "We have received...
- Post-merger, IDBI's shares in IDBI Bank to be annulled.
- Newspaper article from: Economic Times (New Delhi, India) February 25, 2005 700+ words
...shares it holds in its subsidiary, IDBI Bank, after the merger of the two entities...it transfer part of its stake in IDBI Bank to a special purpose vehicle (SPV...Since all of IDBI's shares in IDBI Bank will be annulled, the government...
- IDBI, Bank share swap ratio fixed at 100:142.
- News wire article from: Asia Africa Intelligence Wire January 21, 2005 700+ words
...Jan. 20 - THE shareholders of IDBI Bank will get 100 shares of IDBI for every...by them. The boards of IDBI and IDBI Bank approved the share swap ratio for...5 per cent of its shareholding in IDBI Bank to a trust in order to give value...
Source: HighBeam Research, INDIA'S IDBI DISCUSSES IDBI BANK SHARE SALE WITH LOCAL COS.