LIC completes acquisition of 51% stake in IDBI Bank

"The deal, conceptualised in June 2018, is envisaged as a win-win situation for both IDBI Bank and LIC with an opportunity to create enormous value for shareholders, customers & employees of both entities through mutual synergies," IDBI Bank said in a BSE filing. The bank had reported a net loss of Rs 3,602.49 crore during the September quarter of 2018-19.

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