Recently, the government has announced that after 5 days this government bank will become private, and due to this its customers will be affected a lot. Let's know which this bank
The work of privatizing many public sector banks is being done rapidly across the country. A big update is coming out regarding bank privatization. In January, the government is going to privatize another bank. Finance Minister Nirmala Sitharaman has given information about this. The government has taken a big decision regarding the privatization of IDBI Bank (IDBI bank privatization news).
Bank will be private till January 7
These days the government is planning to sell stakes in many banks. Meanwhile, the big news is coming out about IDBI Bank Privatization that by January 7, that is, after exactly 6 days, the government is going to privatize this bank.
Extended deadline for submission of bids
The government has extended the deadline for filing initial bids for the privatization of IDBI Bank to January 7. The government and LIC want to sell their 60.72 percent stake in IDBI Bank. For this, IDBI Bank invited bids from potential buyers in October. The last date for filing an expression of interest or initial bid was December 16.
Notice was issued
Let us tell you that the advisors received several requests for an extension of the deadline, after which the government has taken this decision. The Department of Investment and Public Asset Management (DIPAM) has said in a notice that now the last date for submission of a letter of interest (EoI) has been extended from December 16, 2022, to January 7, 2023. The last date for submission of copies of EOI was also extended from 23 December to 14 January.
Who can buy this stake?
Let us tell you that Carlyle Group, Fairfax Financial Holdings, and DCB Bank are showing great interest in buying this bank. Amid this news, a strong rise was seen in the shares of the bank on Wednesday. According to information received from sources, all of them can bid for about 10 percent stake in IDBI Bank.
