Due diligence for IDBI Bank stake sale done, financial bids expected in Q3: DIPAM Secy

The government expects to invite financial bids for IDBI Bank disinvestment in the third quarter of the current financial year, with the selection of the winning bidder likely by the end of 2025-26, Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said on Friday.

Speaking about the progress of the high-profile disinvestment, Chawla said all preliminary processes have been completed and the privatisation exercise is now moving into its final phase.

“Due diligence has been completed and data room protocols are completed for all the interested parties,” Chawla stated, indicating that potential bidders have been provided comprehensive access to the bank’s financial and operational information.