Arunish Chawla, secretary of the Department of Investment and Public Asset Management (Dipam) | Photocredit: Cueapi
Financial bids for the strategic sale of IDBI Bank will probably be invited in the third quarter of the current tax, Arunish Chawla, secretary of the Department of Investment and Public Asset Management (DIPAM) said Friday. The strategic sale has been pending over the past three years
“Formal consultation is completed with qualified interested parties. We hope to invite financial bids in the third quarter of this financial year,” Chawla told reporters here.
Successful bidder of the Idbi Bank will probably be announced in March 2026. In the strategic disinvestment of Idbi Bank, the provisional Information Memorandum (PIM) (PIM) was published for inviting an expression of interest (EOI) on 7 October 2022. to Idbi Bank.
In the meantime, the secretary said that the due diligence process has been completed and that data pump protocols have been completed for all qualified interested parties. “Once the financial bids arrive and a successful bidder has been selected, it will be sent to the RBI for definitive ‘fit and correct’ approval. ‘ Said Chawla. Based on the invitation of EOIS in October 2022, the Dipam received several EOIs for Idbi Bank in January 2023. The potential buyer of Idbi Bank has already been given freedom of security by the Ministry of the Interior (MHA) and Fit and correct evaluation by the Reserve Bank of India (RBI).
Idbi Bank is the first of a friendly strategic disinvestment of a bank owned by a government entity, while the government itself has a large number of shares (LIC has 49.24 percent, while the government has 45.48 percent in IDBI Bank). On Friday, Idbi Bank shares closed at £ 90.17 each, a decrease of 2.68 percent of the previous closure on the BSE
CHAWLA announced that the government has appointed trader bankers and legal advisers for the sale of minorities in LIC and other financial institutions in the public sector. “Individual transactions can take place at any time in the coming 3 years,” he said.
Looking at the Driftbui rate
CHAWLA also said that he is doing weekly capital review of all public companies in the public sector and is working on strategies that can insulate the Indian economy through geopolitical risks. He said that companies in the public sector are now good for almost 15 percent of total market capitalization and the government is convinced that they will continue with their capital expenditure.
US President Donald Trump has announced 25 percent rates on India, plus a ‘fine’ for his trade with Russia. The rates will take effect from August 7. The rates have confused stock markets with Sesex and. Nifty drops sharply for the second consecutive session on Friday, following deep losses in pharmaceutical, metal and it has in stock in the midst of trade -related care and widespread sales pressure on the worldwide markets.
Published on August 1, 2025
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