New Delhi: The federal government has enlisted Goldman Sachs because the transaction advisor for divesting its stake in Indian Abroad Financial institution (IOB), Central Financial institution of India, UCO Financial institution, and Punjab & Sind Financial institution, mentioned an individual conscious of the main points. The Centre at the moment holds greater than 90% in every of the 4 banks.
The worldwide funding banking agency will likely be tasked with figuring out potential bidders for the federal government’s stake in these banks and structuring appropriate offers to make sure clean execution, the individual mentioned.
The stake dilution train, aside from signalling the Centre’s dedication to disinvestment, may even assist state-run banks meet the obligatory minimal public float norm.
State-run listed firms, together with banks, have been granted an exemption from the 25% minimal public shareholding requirement till August 1, 2026. These exemptions have been granted periodically however the newest transfer indicators the federal government’s seriousness about compliance, analysts mentioned beforehand.
