The government is in the final phase of disinvestment in IDBI Bank and remains confident about adhering to the sale timeline despite market volatility, according to people familiar with the matter.
Authorities view recent fluctuations as temporary and not expected to affect the process, the people said, adding that the stake sale is targeted to conclude by March 2026, the development sent IDBI Bank shares soaring by as much as 5% on Monday.
The Share Purchase Agreement — which outlines the sale terms — has been cleared by the Inter-Ministerial Group, and the financial bids are likely to be invited in September, the people said.
Sources told NDTV Profit that the Core Group of Secretaries will be the next to review the progress. Three bidders remain in the race for the bank. The earlier delay, according to sources, was due to SPA clarifications, which have now been resolved.
A confidential reserve price will be set for the transaction. The Centre expects to raise Rs 40,000–Rs 50,000 crore from the sale.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
