The Indian government is aiming to complete the stake sale in IDBI Bank by this October, according to sources. The development comes amid ongoing efforts to meet minimum public shareholding (MPS) norms across public sector banks (PSBs).Sources further added that the government has approved Offer for Sale (OFS) transactions in five PSU banks this fiscal year. While Bank of Maharashtra is expected to meet its MPS requirements through its QIP, four other PSBs are likely to resort to OFS to shore up public shareholding.
Given the limited public float in these banks, regulators are reportedly considering extending the August 2026 deadline for achieving the 25% minimum public shareholding norm by another year, potentially pushing it to 2027. The extension would provide additional time for PSBs to comply while maintaining market stability.
The public sector banks are expected to raise around ₹45,000 crore through Qualified Institutional Placements (QIPs) during the current fiscal year, with State Bank of India (SBI) among the key participants, sources added.(Edited by : Ajay Vaishnav)
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