SEBI permits IDBI to offload unlisted shares to non-QIBs
SEBI has confirmed that IDBI Bank is allowed to divest its unlisted equity stakes to buyers outside the institutional category via private, bilateral agreements. This relaxation is valid provided that the sale of shares in a single firm does not exceed 200 investors within one financial year. IDBI requested this clarification following an advisory that suggested public sector banks should restrict such sales exclusively to Qualified Institutional Buyers (QIBs).
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