Bank Privatisation: Big information is coming out regarding Bank Privatisation. Many companies are currently showing interest in buying the government bank. At present, the names of two more new companies are appearing in this list. Let us know the complete details about it.
Another big news is coming out regarding Bank Privatisation. Finance Minister Nirmala Sitharaman announced in her budget last year that she would sell her stake in IDBI Bank.
Currently, this time the process of the bank privatization list will be completed before the budget. Let us tell you that many companies have bid for this bank.
These two companies are showing interest
At present, both Emirates NBD, a Middle East banking company, and Canada's Fairfax Group, led by billionaire Prem Vats, are showing great interest in buying the government's stake in IDBI Bank.
EOI can be submitted this week
According to information received from sources, Emirates NBD and Fairfax Group can submit an Expression of Interest (EOI) this week to buy a stake in this bank.
Another company is also showing interest
Sources have told that Luxembourg's private equity company CVC Capital Partners may also come forward to buy a stake in this deal. As of now, there is no official confirmation about this. No information has been received regarding the submission of its EOI.
What is the share of the government?
Let us tell you that LIC and the central government have a total stake of 94.71 percent in this bank, out of which the government has about 45 percent. Whereas, the rest is part of LIC. After this privatization decision, the government will have only a 15 percent stake in the bank.
Let us tell you that the Modi government and LIC together will sell their 60.72 percent stake in IDBI Bank. Talking about the ratio in this stake, the government's ratio will be 30.48 percent and LIC's stake will be 30.24 percent.
