LIC may take time to trim stake in IDBI Bank

New Delhi: In order to complay with the regulatory norms, LIC may seek a peiod of 3-5 years to cut down its stake in the recently acquired IDBI Bank.

As per the IRDAI’s norms, LIC can have 15 per cent stake in a listed investee firm. Return on investment and market conditions will play a key role in LIC paring its stake in the bank. Cutting down from a high of 51 per cent stake will take longer and cannot be done in months, sources said.

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