Govt invites fresh bids from asset valuers of IDBI Bank

The bidder is required to have an annual turnover of over Rs 1 crore in the previous three fiscal years.

The government on Wednesday issued a fresh RFP for the appointment of asset valuer for strategic sale-bound IDBI Bank. The last date for submitting bids by asset valuer is January 5, the Department of Investment and Public Asset Management (DIPAM) said while floating the Request For Proposal (RFP).

The DIPAM had last week cancelled the bid process for the appointment of an asset valuer for IDBI Bank on low bidder interest. A fresh RFP would be invited soon after a review of some of the bid criteria to enable better interest from bidders, an official had said.

The asset valuer has to be registered either with the Insolvency and Bankruptcy Board of India, or Sebi, or the Institute of Chartered Accountants of India (ICAI). The bidder is required to have an annual turnover of over Rs 1 crore in the previous three fiscal years.