Crisis-ridden private-sector lender Bank of Rajasthan's promoter P K Tayal today ruled out any possibility of selling his stake in the bank amidst speculations that ICICI Bank and Axis Bank have evinced interest for a buy out.
“There are people who are coming (to buy the stake). They are not welcome … the answer is no,” Tayal told PTI when asked if he was open to sell his shareholding in the bank.
At present, Tayals have a stated holding of around 28 per cent in Bank of Rajasthan while according to market regulator Securities and Exchange Board of India, promoters' actual holding in the entity is around 55 per cent.
Recently, media reports said that ICICI Bank and Axis Bank held preliminary discussions with Tayals for a possible buy out of the latter' stake in the bank.
Source: PTI News