IDBI Bank Divests 21.14% Stake in PIPDIC to Puducherry Govt for ₹18.83 Crore

IDBI Bank, a prominent public sector bank offering a wide range of financial services, has taken a strategic step towards its portfolio rationalisation. The bank has divested its entire stake in PIPDIC. This decision stays in line with its objective of streamlining its non-core assets.

Strategic Stake Divestment By IDBI Bank

IDBI Bank has sold its complete stake in Pondicherry Industrial Promotion Development and Investment Corporation Ltd. (PIPDIC), amounting to 8,54,000 shares with a face value of ₹100 each. The total amount received by IDBI Bank for the divestment stands at ₹18.83 crore. This represented 21.14% of PIPDIC's equity. The stake has been acquired by the Government of Puducherry, which already held a significant 78.86% share in the company. The transaction is expected to be concluded by May 16, 2025.

Key Management Changes

Recently, shareholders approved the re-appointment of Shri Rakesh Sharma as MD & CEO and the appointments of Shri Sat Pal Bhanoo and Shri R. Doraiswamy as LIC Nominee Directors, reinforcing leadership stability within the bank.
The Board also approved the re-appointment of Shri T.N. Manoharan as Part-time Chairman for 3 years.  brings extensive experience in banking, finance, and governance. 

Read more: IDBI Share Price in Focus as Government Plans to Conclude Stake Sale by End-2025

Share Price Performance 

As of May 14, 2025, at 9:50 AM, IDBI Bank Ltd share price is trading at ₹83.15 per share, reflecting a surge of 1.66% from the previous day's closing price. Over the past month, the stock has surged by 3.09%. The stock's 52-week high stands at ₹107.90 per share, while its low is ₹65.89 per share.

Conclusion

IDBI Bank’s complete exit from PIPDIC marks a strategic divestment, with ownership now fully transferred to the Government of Puducherry for ₹18.83 crore.

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