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Informist, Tuesday, Jul. 14, 2026

 

NEW DELHI – The government has received updated financial bids for the strategic disinvestment of IDBI Bank, a senior finance ministry official said Tuesday. Fairfax Financial Holdings Ltd. and Emirates NBD, who had submitted their bids in March for the government's 30.48% stake and Life Insurance Corp. of India's 30.24% stake in the bank, have submitted their revised bids, the official said.

 

In April, Informist had reported quoting officials, that the government may seek revised financial bids after receiving bids below the reserve price. The reserve price is the minimum price expected to complete a transaction involving the sale of shares in a company. The shareholdings of the government and LIC in IDBI Bank will fall to 15% and 19%, respectively, after the proposed strategic sale. At 1425 IST, shares of IDBI Bank traded 3.6% higher at INR 87.05 on the National Stock Exchange. At the current share price, the government may raise nearly INR 285 billion from the strategic sale of IDBI Bank.

 

Another official said that considering Emirates NDB acquired RBL Bank earlier this year, Fairfax Financial may have a higher appetite for the stake. Fairfax Financial already holds a 40% stake in the old private-sector lender CSB Bank.

 

The government had invited initial bids from interested investors for IDBI Bank in October 2022 and faced delays due to regulatory requirements. The government is aiming to raise INR 800 billion as miscellaneous capital receipts through the disinvestment of its stake in public sector companies and asset monetisation in 2026-27 (Apr-Mar). The government has stopped giving a specific target for divestment receipts since FY25.  End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Reported by Sagar Sen

Edited by Akul Nishant Akhoury

 

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