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Govt to initiate investor outreach for IDBI Bank sale from Feb 25

The roadshows for the strategic disinvestment of IDBI Bank will be held virtually as investors are not keen on physical meetings due to pandemic fears.

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IDBI Bank

Nikunj Ohri New Delhi
The government will start roadshows with investors for the strategic disinvestment of IDBI Bank from February 25 as the Centre and Life Insurance Corporation of India (LIC) look to sell their stake in the lender to a private buyer.

The preliminary interest of investors will be gauged from the exercise as the government looks to undertake the first-ever strategic disinvestment of a public sector lender (although majorly owned by LIC).

The roadshows will be held virtually as investors are not keen on physical meetings due to pandemic fears, officials in the know said. The roadshows will be managed by intermediaries

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