Government and LIC revalue IDBI Bank to revive stake sale
Business
The government and LIC are giving the IDBI Bank stake sale another shot after earlier bids didn't hit their target price.
They're now revaluing the bank to fix pricing issues, hoping this will attract more interest from global investors and help meet financial goals.
IDBI Bank bidders debate, pension worries
There's debate over whether to invite new bidders or stick with those already in the running, since legal hurdles could pop up if the process is limited to the existing bidders.
Buyers are also wary of IDBI Bank's big pension liabilities and possible government involvement, given that both the government (45.5%) and LIC (49.2%) own most of it.
On a brighter note, news of the renewed sale plan gave IDBI's share price a nice boost this week.