FinMin may complete privatisation process of IDBI Bank by March 2025

In the FY17 Union Budget, the government proposed reducing its stake in IDBI Bank to below 50 per cent

The Union Ministry of Finance is expecting to complete the privatisation process of IDBI Bank by March 2025, according to a senior government official familiar with the matter.

 

“As the Reserve Bank of India (RBI) has issued the ‘fit and proper’ certificate to the shortlisted bidders, the government is moving at full pace on the disinvestment of IDBI Bank, aiming to complete it by this financial year. We will give access to the virtual data room to the bidders by the second week of November,” said the official. 

The government and Life Insurance Corporation (LIC) plan to sell a 60.72