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On more such stake sales in the future, Finance Minister Nirmala Sitharaman says, “I am not negating anything. But yet, more disinvestments.”
Finance Minister Nirmala Sitharaman. (File Photo)
Finance Minister Nirmala Sitharaman on Friday said the strategic divestment process of IDBI Bank is moving fast and is expected to conclude in the current financial year 2026.
In an exclusive interview with Network18 Group Editor-in-Chief Rahul Joshi, the finance minister said, “The IDBI (disinvestment process) is moving quite fast and I expect it to be concluded this financial year.”
On more such stake sales in the future, she said, “I am not negating anything. But yet, more disinvestments.”
Earlier in August, DIPAM Secretary Arunish Chawla said that qualified interested bidders for the stake sale of IDBI Bank have nearly completed the due diligence for the divestment, and the process is likely to be concluded by the next month.
“The EoI part of the process has been fully completed, the qualified parties have been through a provisional fit and proper assessment by the RBI. They are now doing the due diligence, and all details have been made available through the data room. We are in an advanced stage of completing the due diligence exercise and further steps, essentially the RFP stage, we hope to complete by the end of the financial year,” Arunish Chawla had told CNBC-TV18 during an interaction.
The government and the Life Insurance Corporation of India (LIC) jointly own nearly 95 per cent stake in IDBI Bank, of which 60.72 percent stake is earmarked for sale under the ongoing disinvestment programme.
Centre has already completed Rs 20,000 crore worth of divestment during Q1FY26 out of the targeted Rs 47,000 crore for the fiscal. The IDBI Bank stake sale, after multiple delays, is moving forward and is considered as key to the government’s broader divestment strategy.
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al…Read More
A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More
September 05, 2025, 18:15 IST
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