IDBI Bank Shares Surge 8% After FM Reaffirms Disinvestment Plan IDBI Bank shares surged 8% in intraday trading on April 24, 2026, following a statement by Finance Minister Nirmala Sitharaman. The government’s disinvestment plan for the lender was reaffirmed, with Sitharaman assuring that the process would continue despite previous delays. The stock reached a high of ₹79.90 on the National Stock Exchange (NSE) during the session, outperforming the broader market, which saw the Nifty 50 index decline by 1.03%. By 3 PM, the shares were trading at ₹76.36, up 3.5% from the previous close. Sitharaman’s remarks, made during a media interaction, addressed concerns about the privatisation of IDBI Bank. She emphasized that the disinvestment process had been publicly announced and would proceed as planned. The FM clarified that the government would not halt the stake sale, which had been paused earlier due to financial bids falling below the reserve price set by the inter-ministerial disinvestment group. The government and Life Insurance Corporation (LIC) had initially aimed to sell 60.72% of IDBI Bank’s stake, which they had floated in October 2022. Bids for the stake were submitted on February 6, 2026, but failed to meet the reserve price, leading to the scrapping of the sale. Currently, the government and LIC collectively hold 94.71% of IDBI Bank’s shares, with the government owning 45.48% and LIC holding 49.24%. The disinvestment plan targeted the sale of 60.72% of the stake, but the process was paused after the bids fell short. Sitharaman’s reassurance has alleviated investor concerns about the timeline and execution of the privatisation process. Analysts have weighed in on the stock’s valuation and market dynamics.#nifty_50 #national_stock_exchange #idbi_bank #finance_minister_nirmala_sitharaman #life_insurance_corporation
Disinvestment process of IDBI Bank to continue: FM Nirmala Sitharaman Finance Minister Nirmala Sitharaman announced on Friday that the government will proceed with the disinvestment of IDBI Bank, reaffirming its commitment to the privatization process. The decision comes amid ongoing efforts to reduce the public sector's stake in the banking sector, with the government and Life Insurance Corporation (LIC) set to divest significant portions of their holdings. Under the original plan, the government aimed to sell a 30.48 per cent stake in IDBI Bank, while LIC was to divest 30.24 per cent, collectively offering 60.72 per cent of the bank’s shares. Based on previous market valuations, the combined stake was estimated to be worth Rs 72,000 crore. The privatization process has been in motion since January 7, 2023, when the Department of Investment and Public Asset Management received multiple bids from interested parties. Sitharaman emphasized that the government remains focused on completing the disinvestment, stating that there are currently no proposals for consolidation among public sector banks. She noted that a high-level banking committee will review the matter to assess potential strategies for restructuring or merging institutions. The minister made these remarks during a press briefing held at the inauguration of the new premises of the State Bank of India's Local Head Office in Pune, Maharashtra. Beyond the disinvestment plan, Sitharaman highlighted the importance of domestic economic activity as the foundation for India’s growth. She underscored the role of agriculture in driving both internal consumption and exports, pointing out that the country’s vast economy and strong domestic demand are critical to sustaining its position as one of the world’s fastest-growing economies.#pune #state_bank_of_india #idbi_bank #nirmala_sitharaman #life_insurance_corporation
Ranchi University Restructures Bank Accounts for 12 Academic Departments Ranchi University has initiated a major overhaul of its financial operations by restructuring the bank accounts of 12 academic departments. The decision involves closing existing accounts and transferring funds to new accounts managed by department heads. The move aims to address financial irregularities and improve transparency in the allocation of resources. According to the university administration, the restructuring process will begin with the closure of old accounts and the opening of new ones. The funds currently held in Canara Bank will be transferred to the new accounts, which will be managed jointly by department heads and their designated representatives. For instance, the Journalism and Mass Communication department will have its account transferred to HDFC Bank’s Shahi Chowk branch, while the Department of History and Distance Education will open new accounts at IDBI Bank’s Upper Bazaar branch. The list of departments affected includes the Department of Journalism and Mass Communication, Rural Development (Humanities), Public Administration (Political Science), PhD Course Work (English), M.Sc. Biotechnology (Botany), the Department of History, Distance Education Directorate, the Department of Indigenous and Regional Languages, ASTRC, MCA (Mathematics), Institute of Management Studies (IMS), and Institute of Legal Studies (ILS). These departments will either have their accounts moved to HDFC Bank or IDBI Bank, depending on their specific requirements. The university administration emphasized that the new accounts will be managed collaboratively by department heads and their representatives, ensuring greater accountability.#hdfc_bank #idbi_bank #canara_bank #ranchi_university #jharkhand_state_government
Government Likely to Restart IDBI Bank Privatisation Process from Scratch The Indian government is expected to begin the privatisation of IDBI Bank anew after the previous financial bids failed to meet the reserve price, leading to the cancellation of the earlier process. A panel of ministers overseeing the divestment will review the situation and decide on a fresh approach, according to officials familiar with the matter. The decision comes after the bids submitted by potential investors fell short of the set reserve price, prompting the government to reconsider the privatisation strategy. The privatisation process, which had been ongoing for nearly five years, is now set to start from the beginning. Officials noted that the government will examine the entire process, including the methodology used to determine the reserve price. Concerns were raised about the reliance on stock prices to fix the reserve price, particularly for banks with a limited public float, which made them vulnerable to market manipulation. The previous reserve price for IDBI Bank was based on its stock price, which had surged to a 52-week high of ₹118.38 before the bidding process began. The government currently holds a 45.48% stake in IDBI Bank, while the state-run Life Insurance Corporation of India (LIC) owns 49.24%. The remaining 5% is held by the public. Since the financial bids were scrapped, the bank’s stock price has dropped by approximately 19%, closing at ₹74.28 on the National Stock Exchange. This decline has brought the stock close to its 52-week low of ₹72, which was recorded on April 7, 2025. The government’s decision to restart the process is seen as a way to address the shortcomings of the previous attempt.#indian_government #reserve_bank_of_india #idbi_bank #life_insurance_corporation_of_india #competition_commission_of_india
IDBI Bank Share Price Down 35%: What Triggered Crash, Should Account-Holders Worry Shares of IDBI Bank have plummeted nearly 35% in recent weeks, sparking concerns among investors. The sharp decline has wiped out over Rs 18,500 crore in market value, with the stock falling close to its 52-week low of Rs 72.04. The sell-off has raised questions about the bank’s future, but experts emphasize that depositors need not worry about the financial stability of the institution. The primary driver of the market turmoil is uncertainty surrounding the bank’s privatisation plans. The government and Life Insurance Corporation of India (LIC) had previously aimed to sell a majority stake in the bank, a move seen as a potential turning point for its financial health. However, recent reports suggest the sale may be scrapped after bids fell below expected levels. This has led to a shift in investor sentiment, with many pulling back from the stock. The lack of aggressive bids from potential buyers highlights broader concerns. Investors are wary of the bank’s management structure post-acquisition, as well as its legacy issues from its public sector past. High employee costs, rigid structures, and regulatory uncertainties have further dampened confidence. While the government anticipated a better valuation, the gap between expectations and reality stalled the process. Despite the drop in valuations, the bank’s fundamentals remain relatively stable. It has returned to profitability, reduced bad loans significantly, and received capital support in the past. The government and LIC continue to provide backing, and the bank’s balance sheet shows no signs of weakening.#reserve_bank_of_india #idbi_bank #life_insurance_corporation_of_india #government_of_india #deposit_insurance_and_credit_guarantee_corporation
IDBI Bank Divestment Scrapped? LIC, Govt-Owned Bank Clarifies After Stock Tanks IDBI Bank has addressed media speculation about the potential cancellation of the government’s proposed majority stake sale. The bank stated it cannot confirm or deny reports suggesting the sale might be scrapped due to low bids. It emphasized that the strategic disinvestment process is confidential and managed by the Government of India, with the bank having no role in confirming or denying the news. In a filing to the stock exchange, IDBI Bank clarified that the proposed strategic disinvestment is a confidential process initiated by the government. The bank reiterated that it is not in a position to comment on the referenced news reports. When asked about ongoing negotiations, the bank clarified that the disinvestment is being conducted through a competitive bidding process in accordance with government guidelines. It stated that such processes do not involve negotiations, and therefore, the bank has not been involved in any discussions related to the sale. The bank also mentioned that it has already provided updates to stock exchanges regarding key developments in the proposed strategic sale. This comes amid concerns about the stock’s performance, with investors reacting to the uncertainty surrounding the divestment. The government’s plan to sell a majority stake in IDBI Bank has been a topic of discussion, as the bank is a significant player in the Indian financial sector. The clarification follows reports that the sale might be delayed or canceled due to insufficient interest from potential bidders. However, the bank has not received any official communication regarding the cancellation of the sale.#idbi_bank #government_of_india #indian_financial_sector #lic #stock_exchange
Bandhan Bank, IDBI Bank, Fino Payments Bank shares drop amid stake sale and probe speculation Shares of Bandhan Bank, IDBI Bank, and Fino Payments Bank fell sharply on Monday following reports about potential promoter stake sales, strategic divestment plans, and allegations of regulatory probes. The declines came as investors reacted to uncertainty surrounding the banks’ future and ongoing investigations into certain transactions. Bandhan Bank’s shares dropped 7.46% to close at ₹162.50 on the Bombay Stock Exchange, down from ₹175.60 the previous day. The fall followed reports that its promoter, Bandhan Financial Holdings, is considering options such as a stake sale or an initial public offering (IPO) to exit long-term investors like the Government of India’s investment arm, GIC. Bandhan Financial Holdings held a 39.07% stake in Bandhan Bank as of December 2025. The bank clarified in a stock exchange filing that it had not received any official communication about the stake sale plans. IDBI Bank’s shares plummeted 16.49% to ₹77, down from ₹92.20. The decline was linked to reports that the government’s planned strategic sale of the lender may have been scrapped due to financial bids falling below the reserve price. The Indian government and Life Insurance Corporation of India collectively own 94.71% of IDBI Bank, with 60.72% proposed for divestment. The bank stated it had not received any official notice about the cancellation of the divestment process. Fino Payments Bank’s shares fell 17.15% to ₹140.05, down from ₹169.05. The drop followed reports that the Enforcement Directorate (ED) may investigate online gaming-related transactions involving the bank. The bank recently disclosed that its managing director and CEO, Rishi Gupta, was arrested on February 27 under GST-related provisions.#idbi_bank #enforcement_directorate #bandhan_bank #fino_payments_bank #rishi_gupta
India's privatisation push loses steam as IDBI Bank stake sale scrapped The Indian government has decided to abandon the planned sale of a 60.7 per cent stake in IDBI Bank, marking another setback in its broader privatisation strategy. The move comes after bids from potential buyers fell below the reserve price set by the government, highlighting the challenges of balancing political priorities with market realities. The cancellation underscores the complex interplay of structural and political constraints that have shaped India’s disinvestment efforts in recent years. The government and the Life Insurance Corporation of India (LIC) had aimed to reduce state ownership in the banking sector by selling a majority stake in IDBI Bank. The government currently holds 45.48 per cent, while LIC owns 49.24 per cent. This sale was part of a larger plan to divest stakes in public-sector enterprises, including companies like Bharat Petroleum Corporation Ltd, Container Corporation of India, and Shipping Corporation of India. However, only Air India has been successfully privatised so far, sold to the Tata Group in 2022 for ₹18,000 crore. Experts attribute the stalled IDBI Bank transaction to a combination of factors, including the government’s desire to secure a high valuation for public assets and the difficulty of finding buyers willing to meet the reserve price. Kavita Rao, director of the National Institute of Public Finance and Policy, noted that public-sector enterprises are often viewed as “family silver,” making it politically and economically challenging to sell them at a low price. She added that partial stake sales through the market are preferred when companies are profitable, as full privatisation requires finding buyers with the capacity to pay a high valuation.#india #bharat_petroleum_corporation_ltd #idbi_bank #life_insurance_corporation_of_india #container_corporation_of_india
India to Scrap Bids for Majority Stake in IDBI Bank, Source Says India will abandon the bids it received for a majority stake in IDBI Bank, according to a government source, as the offers fell below the minimum price the government had set for the sale. The decision comes after the Indian government and the state-owned Life Insurance Corporation of India (LIC) initiated a process to sell 60.7% of the bank in 2022. The government currently owns 45.48% of IDBI Bank, while LIC holds 49.24%. The sale process was halted because the bids received were deemed insufficient, with the source stating that the offers did not meet the so-called reserve price, or the minimum sale price, established for the transaction. Bloomberg News was the first to report the development. The government may restart the process when market interest in acquiring the bank improves and there is stronger demand from potential buyers, the source added. IDBI Bank and the finance ministry did not immediately respond to a Reuters request for comment outside regular business hours. Reuters had previously reported that the planned sale of IDBI Bank had attracted interest from Canadian investment group Fairfax Financial and Dubai-based Emirates NBD. However, the tepid response from foreign investors contrasts with recent strong bids from international entities, such as Emirates NBD’s $3 billion purchase of a 60% stake in RBL Bank and Sumitomo Mitsui Banking Corp’s acquisition of a 24% stake in Yes Bank. The government’s decision to abandon the sale highlights the challenges in securing a satisfactory price for state-owned assets, particularly in a market where investor appetite for such deals remains limited.#india #idbi_bank #life_insurance_corporation_of_india #emirates_nbd #fairfax_financial
IDBI Bank share price tumbles 14% as strategic sale likely scrapped; what we know so far Shares of IDBI Bank plummeted by 14% in early trading on March 16, 2026, hitting a low of ₹79.25 per share on the National Stock Exchange. The sharp decline followed reports that the strategic sale of the bank’s 60.72% stake, which had been under consideration since October 2022, may be scrapped. The financial bids submitted by potential buyers were reportedly below the reserve price set by the inter-ministerial group overseeing the disinvestment process. The government and Life Insurance Corporation of India (LIC) had jointly sought to sell 60.72% of IDBI Bank, with the government aiming to divest 30.48% and LIC 30.24%. An Expression of Interest (EoI) was floated in October 2022, and bids were received by February 6, 2026. However, the bids fell short of the reserve price, leading to the cancellation of the sale. Prem Watsa’s Fairfax Group and Emirates NBD were among the bidders, but their offers did not meet the required threshold. Currently, the government and LIC collectively hold 94.71% of IDBI Bank, with the government owning 45.48% and LIC holding 49.24%. The proposed sale would have reduced their combined stake to 33.99%. The disinvestment plan was part of broader efforts to reduce public sector stakes in banks and improve financial efficiency. The strategic sale process began in October 2022, with the government and LIC inviting bids for the 60.72% stake. In January 2023, the government announced it had received multiple preliminary bids, which were then evaluated for security clearance by the Ministry of Home Affairs and a "Fit and Proper" assessment by the Reserve Bank of India (RBI). Shortlisted bidders underwent due diligence before finalizing their offers.#reserve_bank_of_india #idbi_bank #life_insurance_corporation_of_india #fairfax_group #emirates_nbd
