Government to invite bids for privatising IDBI Bank

PTI

Updated At : 02:27 PM Sep 15, 2022 IST

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New Delhi, September 14

DIPAM Secretary Tuhin Kanta Pandey on Wednesday said the department is working on the Expression of Interest (EoI) and would soon invite preliminary bids from investors for the privatisation of IDBI Bank.

The Cabinet gave in-principle approval for strategic disinvestment and transfer of management control in IDBI Bank in May 2021.

Currently, the government holds 45.48% in the bank, and the promoter LIC owns 49.24% stake.

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