Government revives IDBI privatization with Fairfax and Emirates NBD bids
Business
The government is back to trying to privatize IDBI Bank after things stalled earlier this year when bids came in too low.
Now, they're reviewing offers from Fairfax Financial Holdings and Emirates NBD to see if they can legally move forward.
The sale process never really stopped. Officials are just figuring out the best way to get it done this time.
Government, LIC sell nearly 61% stake
If all goes as planned, the government and LIC will sell nearly 61% of their combined stake, which could bring in about ₹24,000 crore at current prices.
But before anything happens, approvals are needed from regulators like RBI and CCI, and there's also a required open offer for smaller shareholders.