New Delhi (12.06.2022): The government is likely to invite preliminary bids for privatisation of IDBI Bank by July end. The Department of Investment and Public Asset Management (DIPAM) is currently holding roadshows in the US for the sale. After a few more such investor meets, it will finalise the contours of the sale, the official added.
The government holds 45.48 percent stake in the bank, while LIC owns 49.24 percent. Sources said that the quantum of stake dilution of both the government and LIC is yet to be decided, the management control in IDBI Bank will be transferred in the strategic sale.
The Cabinet Committee on Economic Affairs had given in-principle approval for privatisation and transfer of management control in IDBI Bank in May last year. Necessary amendments to the IDBI Bank Act have already been made through the Finance Act 2021.
New Delhi (12.06.2022): The government is likely to invite preliminary bids for privatisation of IDBI Bank by July end. The Department of Investment and Public Asset Management (DIPAM) is currently holding roadshows in the US for the sale. After a few more such investor meets, it will finalise the contours of the sale, the official added.
The government holds 45.48 percent stake in the bank, while LIC owns 49.24 percent. Sources said that the quantum of stake dilution of both the government and LIC is yet to be decided, the management control in IDBI Bank will be transferred in the strategic sale.
The Cabinet Committee on Economic Affairs had given in-principle approval for privatisation and transfer of management control in IDBI Bank in May last year. Necessary amendments to the IDBI Bank Act have already been made through the Finance Act 2021.
