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K Batra, executive director and group head - corporate banking of IDBI Bank says the timing seems right to monetize a part or its entire stake in CARE. He believes the bank can get between Rs 600 crore and Rs 700 crore for its entire shareholding
The IDBI Bank board has approved the sale of part or whole of its shareholding in CARE . The bank holds 48.18 lakh share or 16.62 percent in CARE. It is in talks with PE players and financial institutions to sell the stake. ChrysCapital, Baring PE Asia and Blackstone are likely to bid for the CARE stake. However, the formal bidding for the stake sale will begin by January 2015 and the process is likely to take place via a closed-bidding process. At current market price, IDBI Bank will get Rs 684 crore by selling its entire stake in CARE. BK Batra, executive director and group head - corporate banking of IDBI Bank says the timing seems right to monetize a part or its entire stake in CARE. He believes the bank can get between Rs 600 crore and Rs 700 crore for its entire shareholding. He says IDBI Bank is only looking at CARE and NSE stake sales at the moment.
The IDBI Bank board has approved the sale of part or whole of its shareholding in CARE . The bank holds 48.18 lakh share or 16.62 percent in CARE. It is in talks with PE players and financial institutions to sell the stake. ChrysCapital, Baring PE Asia and Blackstone are likely to bid for the CARE stake. However, the formal bidding for the stake sale will begin by January 2015 and the process is likely to take place via a closed-bidding process. At current market price, IDBI Bank will get Rs 684 crore by selling its entire stake in CARE. BK Batra, executive director and group head - corporate banking of IDBI Bank says the timing seems right to monetize a part or its entire stake in CARE. He believes the bank can get between Rs 600 crore and Rs 700 crore for its entire shareholding. He says IDBI Bank is only looking at CARE and NSE stake sales at the moment.
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