IDBI Bank Stake Sale: Govt Might Invite Preliminary Bids Next Month, Says Report
2 years, 3 months ago

IDBI Bank Stake Sale: Govt Might Invite Preliminary Bids Next Month, Says Report

News 18  

The government is likely to invite preliminary bids next month to sell its stake in state-owned IDBI Bank and the talks with the Reserve Bank of India are in final stages, according to a PTI report. Shares of IDBI Bank have jumped 6.3 per cent in the past 12 months, raising its market valuation to about Rs 42,470 crore. In its IPO filings in March this year, LIC had said that it will retain part of its 51 per cent stake in IDBI Bank to reap the benefits of the bancassurance channel. LIC had bought a 51 per cent in IDBI Bank in 2019 for Rs 21,624 crore at an average price of Rs 61 per share.

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History of this topic

IDBI Bank Share Price Today on 29-11-2024: IDBI Bank share price are down by -0.22%, Nifty up by 0.88%
3 weeks, 4 days ago

IDBI Bank Share Price Today on 29-11-2024: IDBI Bank share price are down by -0.22%, Nifty up by 0.88%

Live Mint  

IDBI Bank Share Price Today on 29-11-2024: At 29 Nov 11:18 today, IDBI Bank shares are trading at price ₹82.03, -0.22% down from the previous closing price. On the technical front, the stock is trading above the 5,10,20 days SMA & lower than the 50,100,300 day SMA. The stock will have support at 5,10,20 days SMA & face resistance at …

IDBI Bank Share Price Today on 27-11-2024: IDBI Bank share price are up by 0.21%, Nifty up by 0.05%
3 weeks, 6 days ago

IDBI Bank Share Price Today on 27-11-2024: IDBI Bank share price are up by 0.21%, Nifty up by 0.05%

Live Mint  

IDBI Bank Share Price Today on 27-11-2024: At 27 Nov 11:20 today, IDBI Bank shares are trading at price ₹82.03, 0.21% up from the previous closing price. On the technical front, the stock is trading above the 5,10,20 days SMA & lower than the 50,100,300 day SMA. The stock will have support at 5,10,20 days SMA & face resistance at …

IDBI Bank Share Price Today on 26-11-2024: IDBI Bank share price are up by 0.93%, Nifty down by -0.04%
4 weeks ago

IDBI Bank Share Price Today on 26-11-2024: IDBI Bank share price are up by 0.93%, Nifty down by -0.04%

Live Mint  

IDBI Bank Share Price Today on 26-11-2024: At 26 Nov 11:24 today, IDBI Bank shares are trading at price ₹82.06, 0.93% up from the previous closing price. On the technical front, the stock is trading above the 5,10,20 days SMA & lower than the 50,100,300 day SMA. The stock will have support at 5,10,20 days SMA & face resistance at …

IDBI Bank Share Price Today on 25-11-2024: IDBI Bank share price are up by 6.03%, Nifty up by 1.69%
4 weeks, 1 day ago

IDBI Bank Share Price Today on 25-11-2024: IDBI Bank share price are up by 6.03%, Nifty up by 1.69%

Live Mint  

IDBI Bank Share Price Today on 25-11-2024: At 25 Nov 11:13 today, IDBI Bank shares are trading at price ₹81.47, 6.03% up from the previous closing price. On the technical front, the stock is trading above the 5,10,20 days SMA & lower than the 50,100,300 day SMA. The stock will have support at 5,10,20 days SMA & face resistance at …

Mint Quick Edit | IDBI Bank’s stake sale: Progress at last
5 months ago

Mint Quick Edit | IDBI Bank’s stake sale: Progress at last

Live Mint  

The Reserve Bank of India has reportedly certified bidders for IDBI Bank as “fit and proper", paving the way for the government to sell a big equity stake in the bank. With this long-awaited clearance out of the way, the Centre will now grant qualified bidders access to confidential bank data for their assessment. This is a shot in the …

Govt to reissue bid for asset valuer for IDBI Bank sale
1 year, 1 month ago

Govt to reissue bid for asset valuer for IDBI Bank sale

Live Mint  

New Delhi: The Department of Investment and Public Asset Management on Tuesday scrapped the bid for an asset valuer for the strategic disinvestment of IDBI Bank, issued in September, and plans to issue a new request for proposal, a move that may delay the bank's disinvestment initiative begun earlier this year. On 1 September, DIPAM had invited request for proposal …

Learnings from LIC must guide PSU stake selloffs
1 year, 1 month ago

Learnings from LIC must guide PSU stake selloffs

Live Mint  

Investors who had subscribed to the Life Insurance Corporation of India initial share sale in May last year would be a disappointed lot today. Since retail investors tend to repose faith in government enterprises, and LIC especially was a fancied business for its dominance of India’s insurance sector, a high valuation may have got overlooked in the buzz over its …

IDBI Bank sell-off can set the stage for selling public-sector banks
1 year, 11 months ago

IDBI Bank sell-off can set the stage for selling public-sector banks

Live Mint  

Tuhin Kanta Pandey, secretary of the department of investment and public asset management, while speaking to Business Standard, recently said that the Indian government intended to exit IDBI Bank completely, as it was not in the business of commercial banking. The stock market doesn’t give a valuation to government-owned or public sector banks that’s close to what it gives large …

Govt. gets multiple preliminary bids for buying 61% stake in IDBI Bank
1 year, 11 months ago

Govt. gets multiple preliminary bids for buying 61% stake in IDBI Bank

The Hindu  

The government has received multiple preliminary bids for strategic sale of about 61% stake in IDBI Bank. "Multiple Expressions of Interest received for the Strategic Disinvestment of Govt and LIC Stake in IDBI Bank," Department of Investment and Public Asset Management Secretary Tuhin Kanta Pandey tweeted. The government and LIC together are looking to sell 60.72% in IDBI Bank and …

Govt Receives Multiple Bids For Majority Stake in IDBI Bank; Stake Sale Moves To 2nd Stage
1 year, 11 months ago

Govt Receives Multiple Bids For Majority Stake in IDBI Bank; Stake Sale Moves To 2nd Stage

News 18  

DIPAM Secretary Tuhin Kanta Pandey on Saturday said the government has received multiple bids for a majority stake in IDBI Bank. The government currently owns a 45.48 per cent stake in IDBI Bank, while LIC owns 49.24 per cent controlling stake in the lender. Recently, the markets regulator Sebi allowed the government’s shareholding in IDBI Bank to be reclassified as …

Sebi Allows Govt Stake In IDBI Bank To Be Reclassified As Public After Sale
1 year, 11 months ago

Sebi Allows Govt Stake In IDBI Bank To Be Reclassified As Public After Sale

News 18  

The Securities and Exchange Board of India has allowed the government’s shareholding in IDBI Bank to be reclassified as “public” after its stake sale on condition that its voting rights do not exceed 15 per cent, the lender said on Thursday. The government is looking to sell its 30.48 per cent stake in IDBI Bank, while state-backed LIC will offload …

Carlyle, Fairfax, DBS Bank may bid for IDBI Bank
2 years ago

Carlyle, Fairfax, DBS Bank may bid for IDBI Bank

Live Mint  

Carlyle Group, Fairfax Financial Holdings, and DBS Bank are considering to bid for at least 10% each in IDBI Bank as part of the government’s ongoing share sale process, two people, including a government official, said. Private equity firms Carlyle and Fairfax and Singaporean lender DBS Bank have communicated with the department of investment and public asset management, finance ministry …

IDBI Bank privatisation: Govt, LIC to sell 60.72% stake, invite bids
2 years, 2 months ago

IDBI Bank privatisation: Govt, LIC to sell 60.72% stake, invite bids

India TV News  

The government on Friday invited bids for privatising IDBI Bank and said that it together with LIC will sell a total of 60.72 per cent stake in the financial institution. The government and LIC hold 94.72 per cent stake together in IDBI Bank. Life Insurance Corporation holds 529.41 crore shares representing 49.24 per cent stake in IDBI Bank, while the …

A wary govt adopts 2-stage process for IDBI stake sale
2 years, 2 months ago

A wary govt adopts 2-stage process for IDBI stake sale

Live Mint  

The government may take a two-stage approach to privatize IDBI Bank, examining the eligibility of potential bidders in the first stage, followed by a second stage where transaction advisers will take charge of the sale. The government is also cautious following legal troubles in the strategic disinvestments of Pawan Hans, Central Electronics Ltd and HLL Lifecare. The strategic sale of …

IDBI Bank Privatisation: Govt Seeks Easing of Public Holding Norms, Here's What We Know So Far
2 years, 3 months ago

IDBI Bank Privatisation: Govt Seeks Easing of Public Holding Norms, Here's What We Know So Far

News 18  

The government is reaching out to the capital market regulator Sebi for a two-year relaxation in complying with the public shareholding norms in the case of IDBI Bank, according to an ET report. IDBI Bank is already listed now but after the privatisation, it will have to meet the minimum public shareholding norms within three years. The government currently owns …

Govt Considering To Sell At Least 51% Stake In IDBI Bank: Report
2 years, 4 months ago

Govt Considering To Sell At Least 51% Stake In IDBI Bank: Report

News 18  

The government is planning to sell at least 51 per cent of state-owned IDBI Bank, according to a Bloomberg report. The report also said officials in the government and state-owned LIC, which together own nearly 94 per cent stake in IDBI Bank, are discussing the quantum of shares to sell. In its IPO filings in March this year, LIC had …

IDBI Bank puts properties of Great India Tamasha Co on sale for non-payment of loan dues
2 years, 6 months ago

IDBI Bank puts properties of Great India Tamasha Co on sale for non-payment of loan dues

India Today  

Properties of Great Indian Tamasha Company -- corporate guarantor of Great Indian Nautanki Company -- have been put up for sale for non-payment of loans taken from IDBI Bank, HDFC Bank and Bank of Baroda. "IDBI Bank invites bids/offers in sealed covers for sale of the property of Great Indian Tamasha Company under the provisions of the Securitisation and Reconstruction …

Explained | What must LIC IPO investors keep an eye on?
2 years, 10 months ago

Explained | What must LIC IPO investors keep an eye on?

The Hindu  

The story so far: The Life Insurance Corporation of India filed its draft red herring prospectus with capital markets regulator SEBI last Sunday. The main types of risks that could impact LIC and as a result shareholder returns relate to regulatory requirements, competition, the pandemic effect, the Government still retaining majority control, as well as specifics such as the segregation …

Budget 2021: Centre likely to announce sale of IDBI Bank, stake in LIC, say sources
3 years, 10 months ago

Budget 2021: Centre likely to announce sale of IDBI Bank, stake in LIC, say sources

India TV News  

The Centre is likely to announce the sale of a 10% to 15% stake in state-run Life Insurance Corp, the country's biggest insurer, in the upcoming Union Budget, as part of a privatisation push to improve public finances, news agency Reuters reported citing two government sources. Finance Minister Nirmala Sitharaman's plans to divest government control of large companies such as …

RBI rejects Muthoot Finance’s proposal to buy IDBI MF
4 years, 1 month ago

RBI rejects Muthoot Finance’s proposal to buy IDBI MF

Live Mint  

The Reserve Bank of India has not cleared a proposal by Muthoot Finance Ltd to buy IDBI Asset Management Ltd and IDBI MF Trustee Company Ltd from by IDBI Bank Ltd and IDBI Capital Markets & Securities Ltd, the non-bank financier said on Tuesday. The central bank has conveyed to Muthoot Finance that “the activity of sponsoring a mutual fund …

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