IDBI Bank Divests Entire 21.14% Stake in PIPDIC to Puducherry Government for ₹18.83 Crore.

Banking & Finance

In May 2025, Mumbai-based IDBI Bank Limited, a private sector bank in India, finalized the sale of its entire 21.14% stake in Puducherry Industrial Promotion Development and Investment Corporation Limited (PIPDIC) to the Government of Puducherry for Rs. 18.83 crore.


      - This move is part of IDBI Bank’s broader portfolio rationalization strategy.

      - The bank sold 8,54,000 equity shares of PIPDIC, each with a face value of Rs. 100, representing its full 21.14% ownership in the corporation. Prior to this transaction, the Government of Puducherry held a 78.86% stake in PIPDIC and, with this acquisition, has now become the sole owner of the company.

     

Main Point :-   (i) The deal was completed on 13th May 2025, transferring complete control of PIPDIC to the Puducherry government.

      (ii) Established in 1974, PIPDIC aims to foster industrial growth and provide financial support to entrepreneurs in Puducherry.


About IDBI Bank

CEO & MD : Rakesh Sharma
Headquarter : Mumbai
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