Mumbai, 30 June (IANS). IDBI Bank shares rose 4 percent to Rs 105 on Monday. The reason for this is believed to be those reports in which the government is preparing to invite financial bids for the bank.
This step indicates new speed in the bank’s pending disinvestment process for a long time.
The bank has not yet commented on these reports.
According to reports, the central government is close to finalizing the share purchase agreement with potential buyers and may soon seek approval from the ministerial panel overseeing such deals.
IDBI Bank’s stake sales have been delayed several times in the last three years.
Currently, the Central Government and the Life Insurance Corporation of India (LIC) have about 95 percent of the bank. Under the disinvestment scheme, 60.72 percent stake will be sold.
Unlike from previous years, no specific disinvestment target was set in the Union Budget 2025. Instead, the government placed the income from disinvestment and asset mudification in a single category called ‘diverse capital receipts’, which aimed at Rs 47,000 crore for the financial year.
In the last financial year, the government was successful in raising around Rs 30,000 crore through disinvestment.
Officials hope that large sales like IDBI Bank will help increase revenue in FY 26.
From the market perspective, IDBI Bank has performed strong in 2025. This year, its stock has increased by about 35 percent so far. The bank’s financial results have also been solid.
In the January-March period of FY 25, IDBI Bank recorded a net profit of Rs 2,051 crore with a 26 percent increase on an annual basis, which was Rs 1,628 crore in the same period last year.
However, during this period, the bank’s net interest income (NII) declined by 11 percent to Rs 3,290 crore from Rs 3,688 crore in a year ago.
-IANS
ABS/
