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Journalism of Courage
SIDBI share price brought down to Rs 48 per share
NOV 6: Earlier, two months ago, SBI Caps had fixed the share prices for SIDBI divestment at Rs 50 per share. This price did not receive good response from the other banks and FIs, who are supposed to pick up the 51 per cent equity stake of IDBI. As a result, both IDBI and SBI Caps decided to bring down the share price of SIDBI. SBI Caps is the lead manager of SIDBI disinvestment.
The disinvestment of IDBI in SIDBI is expected to bring in around Rs 800 crore to Rs 900 crore for IDBI. According to sources in IDBI, the FI is yet to earmark the amount which will be realised out the sale. This will come in as capital gain and will spruce up the balance sheet of the institution in the short term, sources added.
