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IDBI Bank invites bids for 19% stake sale in Asset Reconstruction Co

My Big Plunge  

IDBI Bank plans to divest its stake in Asset Reconstruction Company Ltd (Arcil) and has invited bids from interested parties. The bank intends to sell 6,23,23,800 equity shares, constituting approximately 19.18% of the total equity share capital of Arcil held by the bank. The last date for submission of expression of interest (EoI) is June 25, 2021. Arcil was incorporated in 2002 and is owned by banks like SBI, IDBI, ICICI, PNB and strategic foreign investors such as Avenue India Resurgence Pte Ltd.