Strong interest: DIPAM receives as many as 167 queries about IDBI sale

9-10 serious bidders seek clarity on the expression of interest

The Department of Investment and Public Asset Management (DIPAM) has received 167 queries from at least 9-10 potential serious bidders about the proposed stake sale and transfer of management control in IDBI Bank. This shows a strong interest in the proposed transaction.

“The department has received multiple queries from a number of bidders. These queries ranged from those related to eligibility criteria, residency requirements, and regulatory fit and proper assessment, to corporate restructuring and other related business matters. The department tried to address and clarify all the concerns that serious bidders had about the proposed expression of interest (EoI),” an