IDBI's unlisted share sales not a public issue: Sebi
The Securities and Exchange Board of India (Sebi) confirmed that IDBI Bank can sell shares of unlisted companies to selected non-qualified institutional buyers without these transactions being classified as public issues. This decision allows IDBI to engage in privately negotiated deals, provided they adhere to the private placement rules outlined in the Companies Act. The clarification follows IDBI's inquiry regarding its stakes in unlisted firms acquired through various financial mechanisms.