Govt likely to call expressions of interest for IDBI Bank sale in July: Official

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26 Aug, 2025 12:21

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India is likely to call for early bids for the planned strategic sale of IDBI Bank in July, a government official said on June 10.

Roadshows for the divestment are going on, the official, who did not want to be named, told reporters.

The cabinet had in May 2021 approved the strategic disinvestment of IDBI Bank along with transfer of management control.

Also read: Roadshows for IDBI Bank disinvestment ongoing, says Finance Ministry

The extent of shareholding to be divested by the government and Life Insurance Corp of India was to be decided at the time of structuring of transaction in consultation with the Reserve Bank of India.

The government owns 45.48 percent of equity of the lender while LIC, currently the promoter of IDBI Bank with management control, owns 49.24 percent.

LIC’s board has passed a resolution to reduce its shareholding in IDBI Bank along with the government’s strategic stake sale.