Bidding deadline for transaction advisor for IDBI Bank sale extended
New Delhi
11-July-2021

Photo: IANS
The Centre has extended the bid submission deadline for transaction advisor for the strategic disinvestment of IDBI Bank to July 22.
The bid submission for transaction advisor and legal advisor ends at 3.30 p.m. and 4 p.m., respectively on July 22, and the bids will be opened 3.50 p.m. and 4.30 p.m. on July 23, respectively, said the Department Of Investment & Public Asset Management (DIPAM).
The previous deadline for submission of the bids was July 13.
Separately, the department also clarified that both Life Insurance Corporation of India (LIC) and the Government of India stake in IDBI Bank will be sold in the instant transaction along with the transfer of management control.
The quantum of stake may be decided during the course of the transaction, it said.
LIC holds 49.24 per cent stake in the bank while the government has 45.48 per cent shares.
Watch This TWL Video
During the Budget presentation for FY22, Finance Minister Nirmala Sitharaman had said that all the previously announced disinvestment processes will be completed in this financial year including IDBI Bank.-IANS
More Headlines
AI Cybersecurity Startup Neural Defend Raises $600K in Pre-Seed Round
Chennai Doctor and Family Found Dead Amid ₹5 Crore Business Loss
Karnataka Withdraws CID Probe in Ranya Rao Gold Smuggling Case
New Kerala Guv Strikes Cordial Tone, Hosts CM Vijayan And FM Sitharaman In Delhi
Digital Payments Surge in India: 18,120 Crore Transactions in FY24-25
AI Cybersecurity Startup Neural Defend Raises $600K in Pre-Seed Round
Chennai Doctor and Family Found Dead Amid ₹5 Crore Business Loss
Karnataka Withdraws CID Probe in Ranya Rao Gold Smuggling Case
New Kerala Guv Strikes Cordial Tone, Hosts CM Vijayan And FM Sitharaman In Delhi
Digital Payments Surge in India: 18,120 Crore Transactions in FY24-25