The government has received financial bids for the strategic privatisation of IDBI Bank, marking a key step in the disinvestment process, the Department of Investment and Public Asset Management (DIPAM) said.
The bids, including from Kotak Mahindra Bank, Fairfax India Holdings, and Emirates NBD, cover the 60.72% stake held by the Centre and LIC. These offers will now be evaluated as per procedure to select a preferred bidder, followed by regulatory approvals.
The move aligns with the government’s broader plan to reduce its stake in non-core sectors and raise revenue.