The government is set to finalise the share purchase agreement for IDBI Bank’s privatisation this month, an official told CNBC-TV18. The transaction is expected to be completed in the first half of FY26, with financial bids to be invited soon.Arunish Chawla, Secretary of the Department of Investment and Public Asset Management (DIPAM), confirmed in an interview with CNBC Awaaz that the disinvestment process remains on track.
“Due diligence has been completed, and data-related issues have been resolved,” he stated, adding that updates on the transaction could be expected in the next three to four months.
While the exact timeline for the privatisation is yet to be confirmed, the government has reiterated that the process is progressing as planned. The stake sale, which includes 30.48% held by the government and 30.24% by the Life Insurance of Corporation (LIC), will also involve the transfer of management control.As per the approved strategy, DIPAM Secretary stated that LIC would divest its stake in IDBI Bank as part of the privatisation plan.
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(Edited by : Ajay Vaishnav)
