LIC-IDBI deal: Clearing the air around the LIC-IDBI deal, SEBI chairman on Wednesday said that the market regulator hasn\u2019t so far received any open offer proposal from insurance behemoth, but the same will be considered once it reaches it. We haven\u2019t received a proposal from LIC with respect to open offer from IDBI Bank deal, SEBI Chairman Ajay Tyagi said today. SEBI will consider the offer once it reaches us, said he. Bloomberg reported on Tuesday that LIC\u2019s investment in IDBI Bank may trigger an open offer for the bank, citing a government official. The shares of IDBI Bank Ltd jumped nearly 10% in morning trade today to an over two-week high of Rs 58.50 on BSE after PTI reported LIC will make an open offer to minority shareholders of the bank. The IDBI Bank stock rose as much as 14.34% intra-day on Tuesday following reports that Life Insurance Corporation\u2019s (LIC) plan to increase its stake in the bank may trigger an open offer. The public sector bank\u2019s share finally ended at Rs 53.20 on the BSE, up 9% from its previous close on Tuesday. Last month, the Insurance Regulatory and Development Authority of India had approved a proposal by LIC to raise its stake in IDBI Bank up to 51% from the current 10.82%, giving the country\u2019s largest insurer special relaxation from its 15% holding cap for insurers in a single firm. The deal is expected to save the government from having to infuse more funds into IDBI Bank, which had received as much as Rs 10,610 crore last fiscal, the most by any public-sector bank. The Reserve Bank of India (RBI) has already initiated a prompt action on the bank, restricting its lending in only low risk-weighted assets. In the March quarter of 2017-18, IDBI Bank reported a net loss of Rs 5,662.76 crore, wider than the Rs 3,199.8 crore loss reported in the same period last year, owing to an 80% year-on-year jump in provisions. Rating agency Icra said on Tuesday that it expects that the change in ownership of IDBI Bank is unlikely to have any significant implications on the credit profile of the lender as the existing ratings factor in the sovereign support.