Stocks of IDBI closed 10.98 per cent lower at Rs 36.05, off the intra-day high of Rs 40.90.
Market sources said the counter slipped after the finance minister ruled out the passing of an ordinance to convert IDBI into a bank.
More than 10.77 lakh shares of IDBI were traded on the BSE. The negative sentiment after the bomb blasts further hit the scrip.
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Stocks of IDBI had been on the upward run over the last three months on hopes that the Centre was framing a restructuring package for the financial institution.
The failure to pass a Bill repealing the IDBI Act in Parliament, has led to the fall in the scrip.
For the fourth quarter ended March 31, 2003, IDBI registered a 15 per cent rise in net profit at Rs 209 crore (Rs 182 crore), on a marginal 0.6 per cent increase in total income at Rs 1,902 crore (Rs 1,891 crore).