IDBI Bank clarifies ongoing strategic disinvestment process following market rumors
The proposed Strategic Disinvestment of IDBI Bank Limited is being conducted through a competitive bidding process established by the Government of India (GOI), and the bank clarified that it has had no involvement in any negotiations related to the referenced news report.In response to queries regarding reports suggesting government acceptance of an offer, IDBI Bank confirmed that the strategic disinvestment is a confidential process undertaken by the GOI. The Bank reiterated that its role within this process adheres strictly to competitive bidding guidelines.
The company provided detailed information on the progression of the divestment, noting that the GOI plans to sell shares representing 30.48%, while LIC will sell 30.24%, bringing the total sale stake to 60.72%.
Key milestones in the strategic disinvestment process include:
| Date | Event Description |
|---|---|
| May 5, 2021 | Cabinet Committee on Economic Affairs gave In Principle Approval for Strategic Disinvestment and transfer of management control in IDBI Bank Ltd. |
| October 7, 2022 | KPMG India was appointed as Transaction Advisor and Link Legal as the Legal Advisors to manage the transaction. |
| October 27, 2022 | Amendment was made to the Preliminary Information Memorandum (PIM) for inviting Expressions of Interest. |
| December 14, 2022 | A further amendment was introduced to the Preliminary Information Memorandum for inviting Expression of Interest. |
| January 5, 2023 | SEBI Approval was granted for the re-classification of GOI as public Shareholder upon completion of the Sale. |
| August 23, 2025 | SEBI Approval was given for the re-classification of LIC as public Shareholder upon completion of the Sale. |
The Bank also addressed market speculation regarding the trading movement. IDBI Bank stated that it has not received any communication from the GOI regarding the finalization of a transaction under the ongoing strategic disinvestment process. Furthermore, the Bank is unaware of any undisclosed material information that could explain the referenced news report or the increase in the share price.
The institution confirmed that the referenced news report pertains to the bidding process of IDBI Bank’s proposed Strategic Disinvestment and is not related to any regulatory or legal proceedings.
IDBI Stock Price Movement
Today, IDBI Bank Limited shares edged higher to close at ₹86.54 after gaining 2.87%, showing positive momentum through the day's trading session. The stock saw high activity in the market, with over 52 million shares changing hands during the final trading period.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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