{"id":24797,"date":"2022-02-18T22:42:57","date_gmt":"2022-02-18T17:12:57","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-ld-idrcl-banks-chg-slug\/"},"modified":"2022-02-19T20:16:21","modified_gmt":"2022-02-19T14:46:21","slug":"biz-ld-idrcl-banks-chg-slug","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-ld-idrcl-banks-chg-slug\/","title":{"rendered":"SBI, BoB, Union Bank subscribe to shares of IDRCL"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-824315184\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Public sector banks SBI, Bank of Baroda and Union Bank on Friday said they have subscribed to 99,000 shares each of the yet to be operational asset reconstruction company IDRCL.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4096920975\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>In a regulatory filing, country&#8217;s largest lender State Bank of India (SBI) said it has acquired 99,000 shares of India Debt Resolution Company Ltd (IDRCL), equivalent to 12.3 per cent stake.<\/p>\n<p>It added that the holding will be brought down to 5 per cent by March 31, 2022.<\/p>\n<p>&#8220;Bank of Baroda has subscribed to 99,000 shares of India Debt Resolution Company Ltd (IDRCL),&#8221; the bank said in a separate regulatory filing. \u00a0 The acquisition is subject to execution of investment agreement, it said.<\/p><div class=\"trade-content_5\" id=\"trade-1905640769\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>The lender further said its equity stake of 12.30 per cent in IDRCL will be reduced to 9.90 per cent by March 31, 2022. The shares are to be subscribed at Rs 10 apiece.<\/p>\n<p>Likewise, Union Bank of India (UBI) said it has subscribed to 99,000 equity shares of face value of Rs 10 each in IDRCL towards the bank&#8217;s initial subscription in the asset reconstruction company.<\/p>\n<p>UBI said it will bring down the holding to 10 per cent in due course of time on subscription by other PSBs\/FIs.<\/p>\n<p>IDRCL is yet to become operational. As an asset management company, it will manage the asset and engage market professionals and turnaround experts for debt resolution. \u00a0 Public sector banks (PSBs) and public financial institutions (FIs) will hold a maximum of 49 per cent stake in IDRCL and the rest will be with private sector banks.<\/p>\n<div class=\"trade-after-content\" id=\"trade-3960555009\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Public sector banks SBI, Bank of Baroda and Union Bank on Friday said they have subscribed to 99,000 shares each of the yet to be operational asset reconstruction company IDRCL. In a regulatory filing, country&#8217;s largest lender State Bank of India (SBI) said it has acquired 99,000 shares of India Debt Resolution Company Ltd (IDRCL), [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":13276,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31,1789],"tags":[],"class_list":["post-24797","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news","category-trending-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SBI, BoB, Union Bank subscribe to shares of IDRCL - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-ld-idrcl-banks-chg-slug\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBI, BoB, Union Bank subscribe to shares of IDRCL\" \/>\n<meta property=\"og:description\" content=\"Public sector banks SBI, Bank of Baroda and Union Bank on Friday said they have subscribed to 99,000 shares each of the yet to be operational asset reconstruction company IDRCL. 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