Govt raises stake in IDBI bank to 77.79%

New Delhi: IDBI bank on Saturday said its promoter, the Government of India, has increased its stake in the company to 77.79 percent by acquiring 3.81 percent shares through preferential allotment.

The government earlier had 73.98 percent stake in IDBI bank.

The government of India has acquired 3.81 percent shares carrying voting rights in the company due to preferential allotment of equity shares, IDBI bank said in a regulatory filing.