IDBI Bank share price jumps 3% on reports of GoI inviting bids from potential bidders
IDBI Bank share price rallied as much as 3 per cent to ₹105.16 on NSE in Monday’s trading session following reports that the government is preparing to invite financial bids for the bank.
According to CNBC-TV18, the Centre is nearing the finalisation of a share purchase agreement with prospective buyers and may soon seek clearance from the ministerial panel overseeing the transaction.
The stake sale in IDBI Bank, which has seen several delays over the past three years, is viewed as a crucial component of the government’s larger divestment agenda.
Currently, the Union government and Life Insurance Corporation of India (LIC) together hold 95% of IDBI Bank, out of which 60.72% has been designated for sale as part of the ongoing…
