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Investors may get till January to submit interest papers for IDBI Bank stake

The government is “not chasing” the divestment target for the financial year ending March 31, the official said.

December 09, 2022 / 12:20 PM IST

The Centre may extend the deadline for submission of early bids for IDBI stakes to January, an official said on December 9.

“We have received requests from the transaction advisor to push forward the deadline for IDBI Bank EoIs,” the official, who did not wish to be identified, told reporters.

The government had set a December 16 deadline to submit expressions of interest for the sale of a majority stake in IDBI Bank.

The government and Life Insurance Corporation of India together hold 94.71 percent in IDBI Bank and are aiming to sell 60.72 percent.