The disinvestment process of IDBI Bank is progressing rapidly, with technical bidders completing their due diligence—a crucial step before the opening of financial bids.
A source close to the development told Zee Business, “Recently, the technical bidders of IDBI Bank have completed the due diligence process.”
As part of this process, bidders have reviewed confidential data, including details of the bank’s top borrowers, non-performing assets (NPAs), and other liabilities. This assessment will help determine the bank’s valuation.
Following the completion of due diligence, the government will invite financial bids.
A source further added, “The entire disinvestment process of IDBI Bank is expected to be completed within the next 3-4 months.”
The IDBI Bank disinvestment is one of the largest after Air India’s privatisation. Market experts believe this move will accelerate the government’s disinvestment agenda. “The successful sale of IDBI Bank will reinforce the government’s commitment to its disinvestment strategy,” they said.
The government and LIC are jointly selling a 60.74 per cent stake in IDBI Bank, along with management control.
Doonited Affiliated: Syndicate News Hunt
This report has been published as part of an auto-generated syndicated wire feed. Except for the headline, the content has not been modified or edited by Doonited
