IDBI Bank plans to sell 1.5% stake in National Stock Exchange (NSE). This move will be a part of the exercise to exit from non-core business.

In a filing to exchanges the bank said that, in a meeting held yesterday, the board of IDBI Bank has granted in-principle approval to divest 74,15,680 equity shares, constituting 1.5% stake of the NSE, held by the bank.

Moreover, last year, the bank had sold 9 lakh equity shares amounting to 2% of the paid-up capital of the NSE, to LIC on March 30, 2016.

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