Shares of IDBI Bank gained nearly 3% after the opening bell on Wenesday, July 15 as the lender issued a clarification on a revised offer from Canada's Fairfax Financial for its stake sale.
IDBI Bank shares advanced as much as 2.8% to Rs 88.99 apiece. The scrip was trading 1.87% higher by 9:45 am, while the benchmark Nifty 50 index was 0.6% up.
Following market hours on Tuesday, July 14, IDBI Bank informed the exchanges that it is "not in a position to either confirm or deny" media reports claiming the government is close to accepting a revised offer from Canada's Fairfax Financial for its stake in the lender.
The bank said it has not received any communication from the Government of India on the finalisation of any agreement under the ongoing strategic disinvestment process.
"The proposed Strategic Disinvestment of IDBI Bank Limited is a confidential process being undertaken by the Government of India (GOI) and, hence, IDBI Bank is not in a position to either confirm or deny the referenced news report," the bank said.
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