“We noticed materials value motion within the Financial institution’s scrip on February 6, 2026, and due to this fact want to make clear that the Financial institution has not submitted a monetary bid as a part of the disinvestment course of regarding IDBI Financial institution Restricted,” the lender stated in an trade submitting.
In accordance with an ET report dated February 6, Prema Watsa’s Fairfax Monetary and Kotak Mahindra Financial institution had been stated to have submitted monetary bids for a majority stake in IDBI Financial institution. ET has additionally learnt that Emirates NBD didn’t submit any bid. All three entities had earlier submitted expressions of curiosity (EoIs).
On Friday, the Division of Funding and Public Asset Administration (DIPAM) stated in a put up on X that monetary bids have been obtained for the strategic disinvestment of IDBI Financial institution and might be evaluated in accordance with the prescribed process.
The contenders are vying to amass the 60.72% stake being provided by the federal government and the Life Insurance coverage Company of India (LIC). Collectively, the Centre and LIC personal over 90% of IDBI Financial institution.
IDBI Financial institution’s disinvestment course of was formally launched in October 2022 however has since confronted delays because the Authorities of India undertook a number of measures to take away hurdles for potential consumers.
The profitable bidder should undergo a last evaluation by the Reserve Financial institution of India (RBI) to make sure that it meets the banking regulator’s ‘match & correct’ requirements. As well as, approvals might be wanted from statutory and regulatory authorities, together with the Competitors Fee of India. The profitable bidder can even should adjust to the requirement to make an open supply to minority shareholders of IDBI Financial institution.
