The Centre on Friday invited Expression of Interest (EoI) for the privatisation of and has set December 16 because the final date to submit the bids.
The authorities will divest a 30.48 per cent stake in the lender and the Life Insurance Corp of India (
) will sell a 30.24 per cent stake.
The Cabinet Committee of Economic Affairs had given in-principle approval for the strategic disinvestment of IDBI Bank in May 2021.
The authorities owns a forty five.48 per cent stake in the general public sector lender, whereas LIC holds a 49.24 per cent stake. LIC is at the moment the promoter of the financial institution.
The Centre goals to increase Rs 65,000 crore by divestment in 2022-23 (April-March), of which, it has raised about Rs 24,500 crore thus far.
