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IDBI shortlists 7 buyers for home loan subsidiary

Government-owned IDBI Bank hopes to sell its Pune-based, wholly-owned, home loan subsidiary by mid-January and has shortlisted seven players as potential buyers for the deal, a top IDBI bank executive said On Wednesday. “We have received 12 proposals for the subisidiary. Out of these, seven have been shortlisted. The due diligence process is on and we hope to sell the unit by mid-January,” IDBI Bank Deputy Managing Director O V Bundellu told reporters here. The bank has appointed IDBI Capital as the adviser for the deal, Bundellu said. IDBI Bank decided to sell the subsidiary, ...