Fin min source says IDBI Bank stake sale likely to conclude by October
This story was originally published at 21:47 IST on 9 July 2025
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--Govt source: IDBI Bank stake sale likely to conclude by October
NEW DELHI – The strategic stake sale in the IDBI Bank is likely to be concluded by October, a senior finance ministry official said Wednesday. The government has already internally discussed the share purchase agreement for the transaction and is soon likely to seek financial bids, the official said.
The government had in 2022 invited expressions of interest to sell its 30.48% stake and Life Insurance Corp. of India's 30.24% stake in IDBI Bank. The government had received multiple expressions of interest from potential investors in March 2023.
The Cabinet Committee of Economic Affairs had given its in-principle approval for strategic divestment and transfer of management control in 2021. On Wednesday, shares of IDBI Bank ended 0.1% higher at INR 99.88 on the National Stock Exchange. End
Reported by Sagar Sen
Edited by Akul Nishant Akhoury
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