About Company
The IDBI Bank Limited is a development finance institution under the ownership of Life Insurance Corporation of India and Government of India. It was established in 1964 as Industrial Development Bank of India, a development finance institution, which provided financial services to industrial sector. In 2005, the institution was merged with its commercial division, IDBI Bank, forming the present-day banking entity and was categorised as "other development finance institution" category.
Later in March 2019, Government of India asked Life Insurance Corporation to infuse capital in the bank due to high NPA and capital adequacy issues and also asked LIC to manage the bank to meet the regulatory norms. IDBI was put under Prompt corrective action of the RBI and on 10th March 2021 IDBI came out of the PCA. At present direct and indirect shareholding of Government of India in IDBI Bank is approximately 95%
Disinvestment Status
DIPAM opened an expression of interest in IDBI Bank on October 7, 2022.
On January 7, 2023, it announced that it received multiple interest.
Presently, LIC and government hold 49.24 per cent and 45.48 per cent stake in the bank.
Post the sale LIC to hold 19.24 per cent and government at 15.48 per cent.
Long term investors should buy on dips and hold
CMP - 56
Year High - 62
Year Low - 31
Returns
1 month - 5%
3 monthS - 14%
6 months - 1%
12 months 50%
Technicals - Moving Averages
20 DMA - 55
50 DMA - 52
100 DMA - 51
200 DMA - 48
Date 06 June 2023
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