The government has invited fresh financial bids from the existing shortlisted bidders for the strategic sale of IDBI Bank Ltd., as it looks to revive the long-delayed privatisation process and complete the transaction during the current financial year, sources told NDTV Profit.
According to sources, the Centre is aiming to conclude the stake sale in FY27 and expects to realise around Rs 50,000-55,000 crore from the transaction.
The fresh bidding round follows an earlier setback, with the initial bids reportedly coming in below the government's reserve valuation. Rather than reopening the process to new participants, the government has asked the existing shortlisted bidders to submit revised financial offers.
The proposed transaction involves the sale of the government's and LIC's combined stake in IDBI Bank, along with a transfer of management control. The privatisation of IDBI Bank has been one of the government's marquee disinvestment initiatives and has faced multiple delays since the expression of interest process began.
This is a developing story.
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