IDBI Bank | DD News

October 30, 2026 10:30 AM

IDBI Bank sale: Government says reserve price unchanged, second bidding round raised value by Rs 3,917 crore

The Ministry of Finance has said the reserve price for IDBI Bank’s strategic disinvestment remained unchanged during the second bidding round, which increased the bid-discovered price by Rs 3,917 crore, enhancing the transaction’s value for the government and Life Insurance Corporation of India (LIC). In a clarification issued on Thursday, the Ministry said the second, or “best offer”, round was conducted under a procedure determined by the Core Group of Secretaries on Disinvestment (CG...

October 14, 2026 8:22 PM

IDBI Bank restructuring to strengthen banking ecosystem: FM Sitharaman

Finance Minister Nirmala Sitharaman on Wednesday said the government’s decision to strategically restructure IDBI Bank reflects India’s continued commitment to economic reforms and financial sector transformation. In a post on social media platform X, FM Sitharaman said the Cabinet Committee on Economic Affairs’ (CCEA) approval of the restructuring was achieved under the leadership of Prime Minister Narendra Modi and would pave the way for the bank’s next phase of growth through foreign...

October 14, 2026 5:10 PM

Cabinet approves Rs 52,878 crore sale of 60.72% stake in IDBI Bank to Fairfax entity

The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved Canada-based Fairfax Financial Holdings Ltd. as the strategic buyer for a 60.72% stake in IDBI Bank for approximately ₹52,878.08 crore. The transaction comprises the sale of a 30.48% stake held by the Government of India and a 30.24% stake held by Life Insurance Corporation of India. Following the sale, the government will retain 15% and LIC 19% in the bank. The winning offer of ₹81 per share exceeded the benchmark valu...