IDBI Bank stake sale to get completed by end of 2025: DFS secretary

In January 2023, the government had received multiple expressions of interest (EoIs) for the sale of a 60.72 percent stake in the bank. The shortlisted bidders are currently engaged in due diligence.

Department of financial services secretary M. Nagaraju on May 5 said the strategic sale of the stake in IDBI Bank will get completed in 2025.

"The stake sale in IDBI Bank will get completed in this calendar year," Nagaraju said during the sidelines of the listing ceremony of 1st Residential Mortgage-backed Securities.

The Centre and the Life Insurance Corporation of India (LIC) plan to jointly offload a 61 percent stake in the lender, which includes 30.48 percent held by the government and 30.24 percent by the insurance firm.

In January 2023, the government had received multiple expressions of interest (EoIs) for the sale of a 60.72 percent stake in the bank. The shortlisted bidders are currently engaged in due diligence.

On April 9, DIPAM secretary Arunish Chawla said strategic sale of IDBI Bank is progressing steadily, with key procedural milestones such as data room access and asset valuation now in motion.

For the financial year 2025-26, the Centre has set a disinvestment and asset monetisation target of Rs 47,000 crore. The IDBI Bank transaction is expected to be one of the most significant contributors to this target, alongside other divestment plans.