Archive · 31 Jan 2026
India Sets February 5 Deadline for IDBI Bank Bids
The Indian government has set a deadline of February 5, 2024, for companies to submit their bids to buy a big part of IDBI Bank.
The government and a big insurance company called LIC together own most of the bank.
They want to sell 60.7% of it.
Three companies have been approved to bid.
The government hopes to finish this sale by March 2026.
The bank needed help in 2019 because it had too many bad loans.
The winning bidder might even be able to change the bank's name.
India's government set a February 5 deadline for financial bids for IDBI Bank.
The government and LIC plan to sell 60.7% of the bank.
Eligible bidders include Fairfax Financial Holdings, Emirates NBD, and Kotak Mahindra Bank.
The divestment process began in 2022 and is expected to complete by March 2026.
The winning bidder may rename the bank, which was rescued in 2019 due to bad loans.
- Who
- Indian government and Life Insurance Corporation of India
- What
- Set a deadline for financial bids for IDBI Bank
- When
- February 5, 2024
- Where
- India
- Why
- To divest a majority of their holdings in IDBI Bank
- Deadline
- February 5, 2024
- Government Stake
- 45.48%
- LIC Stake
- 49.24%
- Total Stake for Sale
- 60.7%
- Eligible Bidders
- Fairfax Financial Holdings, Emirates NBD, Kotak Mahindra Bank
- Bank Rescue
- 2019
- Initial Divestment Start
- 2022
- Expected Completion
- March 2026