IDBI owns 18.9 percent equity in SHCIL, with the other shareholders being IFCI 33 per cent, GIC 14 percent and SUUTI and LIC with 17 percent each.
IDBI Bank today said it plans to sell its part or full stake in Stock Holding Corporation of India Ltd (SHCIL). The Board at its meeting held on February 28, 2014 accorded its in-principle approval for initiating the process for part or whole divestment of bank's shareholding in SHCIL, IDBI Bank said in a filing on the BSE.
IDBI owns 18.9 percent equity in SHCIL, with the other shareholders being IFCI 33 per cent, GIC 14 percent and SUUTI and LIC with 17 percent each. It would be subject to compliance with all applicable laws, regulations and guidelines, it said.
Also Read: Sebi imposes Rs 2 lakh penalty on IDBI for violating norms
Earlier, IDBI Bank had plan of merging this with itself. SHCIL is country's first and one of the largest security custodians to financial institutions. As a custodian, SHCIL holds securities on behalf of banks, mutual funds , corporates, FIIs, venture capital funds and other institutional entities.
IDBI Bank stock price
On March 03, 2014, IDBI Bank closed at Rs 56.10, up Rs 0.00, or 0.00 percent. The 52-week high of the share was Rs 93.65 and the 52-week low was Rs 52.30.
The company's trailing 12-month (TTM) EPS was at Rs 7.22 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 7.77. The latest book value of the company is Rs 134.09 per share. At current value, the price-to-book value of the company is 0.42.
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