The board of Bank of Baroda has approved divestment of its majority stake in Nainital Bank.
The board approved sale of its 98.57% stake in Nainital Bank, according to an exchange filing.
It also authorised issuance of an advertisement inviting expressions of interest, through a preliminary information memorandum, from interested parties to acquire majority stake, it said.
The process of transaction and other details for inviting EOI from the bidders will be published on Dec. 14.
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