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Stocks to watch, 25 August: Stocks like InterGlobe Aviation, Max Healthcare Institute, Hero MotoCorp, IndusInd Bank, Yes Bank, Titagarh Rail Systems, RailTel Corporation of India, Brigade Enterprises, Interarch Building Solutions, IDBI Bank, Signpost India, and CEAT will be in focus on August 25.
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DIPAM said all necessary details relating to the divestment have been shared with the qualified bidders, and the technical document for the divestment is ready now.
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The government has completed the process of due diligence, and data room protocols have been completed for all interested parties, the secretary said, adding that formal consultations have been completed with all qualified and interested parties.
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Shares of IDBI Bank were trading at Rs 93.35 on the NSE as of 2:30 PM IST on July 21
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The assurance comes as the Inter-Ministerial Group (IMG) on disinvestment met on July 9 to discuss the draft Share Purchase Agreement, a crucial milestone before final approvals are sought from higher authorities.
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The financial bids are expected to be invited from shortlisted suitors soon, a government official said
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Stocks to Watch, 7 July: Stocks like IndusInd Bank, Bank of India, Godrej Consumer Products, Dabur India, Senco Gold, Rail Vikas Nigam, Hazoor Multi Projects, BEML, Mahindra Lifespace Developers, Shilpa Medicare, and Tata Steel will be in focus on July 7.
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IDBI Bank shares jumped 4 percent on June 30 to Rs 105 apiece after reports indicated that the government may soon invite financial bids, marking progress in the long-delayed disinvestment process
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Government expects up to Rs 80,000 crore from disinvestment in LIC and IDBI, the two key transactions, against the Rs 47,000 crore Budget target for capital receipts
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After the early wave of bank licenses rolled out in the 1990s, there has been a dearth of innovation, ideation, creation of fresh talent, and more importantly, capital into the Indian banking landscape has thinned in the recent years. This may change if India embraces serious foreign interest flowing into the banking sector
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Dubai-headquartered bank Emirates NBD is willing to shell out $6-7 billion in an all-cash deal for a 61 percent stake in IDBI Bank, Moneycontrol has learnt. This emerged after an informal conversation between DIPAM and potential bidders over valuation for IDBI Bank’s divestment.
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The bank's operating profit for FY25 rose 16% to Rs 11,079 crore, while the Net Interest Margin (NIM) stood at 4.56%
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The development marks a significant step in the government’s efforts to privatise the lender and achieve its broader disinvestment goals in the current financial year
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Stocks to Watch, Mar 24: Stocks like Reliance Industries, Apollo Hospitals Enterprise, Power Grid Corporation, Allied Blenders and Distillers, Sundaram-Clayton, IRCON International, NMDC, Power Finance Corporation, UCO Bank, Larsen & Toubro, Insolation Energy, Hindustan Copper, IFCI, and IIFL Capital Services will be in focus on March 24.
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The real attraction for the potential buyer will be IDBI Bank’s huge deposits of Rs 282,000 crore as of December last year
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Disinvestment process on track for BEML, SCI; PSU dividends expected to increase moving ahead, says Arunish Chawla
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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
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The total income of the bank increased to Rs 8,564.92 crore in the third quarter of the current fiscal from Rs 7,514.27 crore in the year-ago period.
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Moneycontrol revealed that global consultancy firm KPMG is conducting the closing due diligence on the bank
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Financial bids will be called once the diligence report is finalised, which according to sources may happen by the end of March
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Stocks To Watch Today, Jan 6: Stocks like Indian Bank, ESAF Small Finance Bank, Equitas Small Finance Bank, Ujjivan Small Finance Bank, Union Bank of India, IDBI Bank, Adani Wilmar, Vedanta, L&T Finance, Mahindra & Mahindra Financial Services, UCO Bank, Marico, ICICI Bank, and JSW Infrastructure will be in focus on January 6.
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While the bank has plans for inorganic growth options, Amitabh Chaudhry ruled out the possibility of making a move for IDBI Bank or Yes Bank.
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According to Kamath, if PSU banks are self-sufficient on capital, the need for divestment is not clear
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The lender posted a total income of Rs 8,754.54 crore in the reported quarter, higher by 26.43 percent over Rs 6,924.18 crore registered in the year-ago period
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The IDBI Bank strategic sale criteria was prepared in consultation with the RBI. The RBI has done due diligence of all bidders. A priori approval was sought to avoid complications later on as a double check.
