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IDBI Bank board seeks government approval for majority stake sale of 51% to LIC
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IDBI Bank board seeks government approval for majority stake sale of 51% to LIC

IDBI, which has the worst asset quality among all the banks with a 28 percent bad loan pile, said it has received a letter from LIC on Monday expressing interest to increase its holding to 51 percent through preferential allotment of shares or an open offer or a combination of both.