Industrial Development Bank of India (IDBI), has received approval from its board of directors to sale 7% of its stake in National Securities Depository Limited (NSDL).

In a release IDBI stated that, its board of directors has approved the sale of 27,99,999 lakh equity shares of National Securities Depository Limited (NSDL), which constitutes 7% of NSDL total paid up equity capital.

Moreover, in March 30,2016, IDBI Bank had sold 9 lakh equity shares constituting 2% paid up capital of the NSE to LIC.

Read EquityPandit’s Technical Analysis of Nifty Bank Outlook for the Week