IDBI Bank Privatization: Financial Bids Set for Third Quarter
The privatization of IDBI Bank is advancing, with financial bids expected in the third quarter of the current fiscal year. DIPAM Secretary Arunish Chawla announced that formal consultations with qualified parties are complete. The successful bidder will be revealed by March 2026, pending RBI's 'fit and proper' clearance.
- Country:
- India
In a significant development, financial bids for the strategic sale of IDBI Bank are on track to be invited in the third quarter of this fiscal year, according to DIPAM Secretary Arunish Chawla.
The announcement came Friday, providing a timeline for a process that has been underway for nearly three years. Chawla confirmed that due diligence is complete and data room protocols set for interested parties.
With formal consultations concluded, the path is cleared for final bidding. Once selected, the successful bidder will proceed to RBI for the pivotal 'fit and proper' evaluation. This milestone follows government and LIC's October 2022 expression to sell a combined 60.72% stake.
(With inputs from agencies.)
- READ MORE ON:
- IDBI Bank
- privatization
- financial bids
- DIPAM
- Arunish Chawla
- strategic sale
- stake
- LIC
- RBI
- investment
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