Share purchase agreement for IDBI Bank's privatisation likely to be finalised in March: CNBC-TV18

The shares of the bank jumped 1.87 percent to Rs 74.15 on NSE at 02:58 pm on Monday.

The share purchase agreement for IDBI Bank's privatisation is set to be finalised in March, a report by CNBC-TV18 said on March 10.

The Central government has set a target of completing the IDBI transaction by the first half of next financial year, top officials told the news channel, adding that the Centre plans to invite financial bids soon.

The shares of the bank jumped 1.87 percent to Rs 74.15 on NSE at 02:58 pm on Monday.

In January, Moneycontrol had reported that the divestment process at the bank has moved to the next stage with global consultancy firm KPMG conducting closing due diligence.

Once the report is ready, it will be tabled before the board of the bank and shared with potential suitors for financial bids, Moneycontrol had reported citing top sources aware of the development.

The department of investment and public assets management (Dipam) will invite bids to acquire 60.7 percent stake in the bank. Moneycontrol had also reported that bids are unlikely to be placed in March and the divestment will likely happen in FY26.