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Deal▲ Bullish for IDBI Bank
Government evaluates revised bids for 60.72% stake in IDBI Bank
The brief
- Revised bids are from Fairfax Financial Holdings and Emirates NBD
- The proposed sale covers a 60.72% stake in IDBI Bank
- The sale process is a key catalyst for IDBI Bank shareholders and prospective bidders
| Stock | Traded | That day | vs Nifty | Volume | Since |
|---|---|---|---|---|---|
| IDBI | Fri, 25 Sept | +2.2% | +1.8% | 1.0× | +2.2% · Nifty +0.3% |
✓ Classifier read this as positive; IDBI rose 1.8% against the Nifty on the day it traded.
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IDBI Bank stake sale
The government is evaluating revised financial bids from Fairfax Financial Holdings and Emirates NBD for the proposed sale of a 60.72% stake in IDBI Bank. The sale comprises the Centre’s 30.48% holding and LIC’s 30.24% stake.
Friday, 25 September
- Government evaluates revised bids for 60.72% stake in IDBI Bank