The process of disinvestment of IDBI Bank is progressing at a fast pace and the technical bidders are now finished with their due diligence. This is a very important process in which the company gets to analyze crucial information like the name of the bank’s big borrowers, its NPAs and liabilities, among others. After this, the government is planned to call for financial bids for the sale. The entire process of disinvestment of IDBI Bank may be completed in the next three to four months, said sources in the know. This is regarded as one of the biggest disinvestments since the privatization of Air India. The government and the Life Insurance Corporation (LIC) are jointly offering 60.74 per cent stake in IDBI Bank along with management control. This is a crucial step towards the achievement of the government’s privatization agenda and the fulfillment of its disinvestment strategy. Since the due diligence is now over, the market watchers are expecting that the sale will be fast and efficient in order to meet the government’s objective of decreasing its ownership in state-owned companies and enhancing the efficiency of public enterprises. The sale of IDBI Bank is predicted to be a significant milestone in India’s disinvestment programme.
IDBI Bank Disinvestment Accelerates as Technical Bidders Complete
