Overview
- DIPAM confirmed on February 6 that sealed financial bids have been received for IDBI Bank and said evaluation will follow the prescribed procedure.
- The Centre and LIC are jointly offering a 60.72% stake, with the government selling 30.48% and LIC 30.24%.
- Reports identify four RBI-cleared contenders: Kotak Mahindra Bank, Emirates NBD, Fairfax India Holdings and Oaktree Capital.
- An independent reserve price will be set before bids are opened in the presence of bidders; the top valid offer above that threshold will go to the Alternative Mechanism for approval and then face statutory clearances and an open offer to minority shareholders.
- Officials aim to complete the transaction within FY26 subject to approvals, and IDBI Bank’s shares rose following the latest update.