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 arm for India’s languishing disinvestment programme, which got short shrift in the interim budget. Pleased with large dividends from state-run companies, New Delhi was thought to have lost its ardour for stake sales.

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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, 3 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, 5 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%
3 weeks, 6 days 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 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 | Record SIP inflows in October: Source of stability
1 month, 1 week ago

Mint Quick Edit | Record SIP inflows in October: Source of stability

Live Mint  

Despite the share market selloff, retail investors seem to be in no panic. The total amount of money flowing into equity markets through SIPs hit a record ₹25,322.74 crore in October, up from ₹24,509 crore in September. The count of SIP accounts also climbed to a new peak of 101.2 million from 98.7 million, according to Amfi data released on …

ICICI Bank stock hits record high, market cap crosses ₹9 lakh crore for first time; What’s driving the rally?
3 months ago

ICICI Bank stock hits record high, market cap crosses ₹9 lakh crore for first time; What’s driving the rally?

Live Mint  

Private lender ICICI Bank, on Wednesday, became the fourth Indian company to surpass a market capitalization of ₹9 lakh crore for the first time, following a share price increase of over 30 percent in 2024. On September 18, the stock reached an all-time high of ₹1,295 on the BSE, marking a 2 percent increase from the previous close, with a …

IDBI Bank seeks CBI probe in ₹5 crore delivered to wrong premises incident
9 months, 1 week ago

IDBI Bank seeks CBI probe in ₹5 crore delivered to wrong premises incident

The Hindu  

In an intriguing case that has many twists and turns, an Income Tax search in Mangaluru recently, which led to the seizure of ₹5 crore belonging to IDBI Bank, has ended with the bank seeking a CBI investigation into the episode. The case unfolded in mid-December 2023, when Income Tax sleuths swooped down on a business establishment near Kankanady where …

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 …

SBI to divest its 2% equity stake in NSDL IPO via OFS
1 year, 5 months ago

SBI to divest its 2% equity stake in NSDL IPO via OFS

Live Mint  

State Bank of India today said it proposes to sell 2% stake by offloading 40 lakh shares in depository organisation NSDL. State Bank of India proposes to participate in an Initial Public Offering of National Securities Depositories Limited by way of offer for sale of up to 2% equity stake held by the Bank in NSDL. SBI holds 5 per …

IDBI Bank hikes FD rates up to 8.00% on 700 days tenor effective from today
1 year, 10 months ago

IDBI Bank hikes FD rates up to 8.00% on 700 days tenor effective from today

Live Mint  

The private sector lender IDBI Bank has hiked its interest rates on fixed deposits of less than ₹2 Cr. IDBI Bank FD Rates The bank is now providing an interest rate of 3.00% on fixed deposits maturing in the next 7 to 30 days, and IDBI Bank is now promising an interest rate of 3.35% on those maturing in the …

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 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 …

Govt Considering To Sell At Least 51% Stake In IDBI Bank: Report
2 years, 3 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 …

Delhivery Gets Sebi’s Go-Ahead To Raise Rs 7,460 Cr Via IPO
2 years, 11 months ago

Delhivery Gets Sebi’s Go-Ahead To Raise Rs 7,460 Cr Via IPO

ABP News  

New Delhi: Delhivery, the supply chain firm, has received Sebi’s approval to raise Rs 7,460 crore through an initial public offering. The IPO comprises fresh issuance of equity shares worth Rs 5,000 crore and an offer for sale component of Rs 2,460 crore by existing shareholders, according to the draft red herring prospectus, PTI reported. According to the draft papers, …

IDBI Bank Back in Black in FY21 After 5 Years, Posts Profit of Rs 1,359 Crore
3 years, 7 months ago

IDBI Bank Back in Black in FY21 After 5 Years, Posts Profit of Rs 1,359 Crore

News 18  

LIC-controlled IDBI Bank turned profitable in the fiscal ended in March 2021 after five years, posting a net profit of Rs 1,359 crore for the year. In the last quarter of the fiscal year 2020-21, the bank reported a nearly four-fold jump in its net profit to Rs 512 crore, IDBI Bank said in a release. The bank said its …

RBI rejects Muthoot Finance’s proposal to buy IDBI MF
4 years 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 …

IDBI Bank Reports Rs 324 Crore Profit for Q2; Non-performing Assets Ratio Down
4 years, 2 months ago

IDBI Bank Reports Rs 324 Crore Profit for Q2; Non-performing Assets Ratio Down

News 18  

IDBI Bank on Friday reported a net profit of Rs 324 crore for the second quarter of the current fiscal year against a loss of Rs 3,459 crore for the same period of the previous fiscal. Compared sequentially, the bank registered a 125 per cent jump against the first quarter net profit of Rs 144 crore, IDBI Bank said in …

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