Page 9 - Idbi Bank

IDBI Bank rallies 6%, hits 52-week high as DIPAM extends bid submission

DIPAM extended the deadline to submit Expressions of Interest (EoI) for the strategic disinvestment of the Bank to January 7 2023 from December 16 2022.

DIPAM extends last date for submission of EoI for IDBI stake sale

Consortium of foreign funds, investment companies will be allowed to own over 51% of IDBI Bank

Govt may extend bid submission deadline for stake sale in IDBI Bank

January 2023 could be new date following requests from transaction advisor

Top Headlines: IDBI stake sale, comprehensive package for Vi, and more

Queries shows a strong interest in the proposed IDBI transaction

Stocks to Watch: Auto, Voda Idea, Axis, IDBI Bank, Dabur, Spandana Sphoorty

Stocks to Watch Today: Markets to track Gujarat, Himachal Pradesh assembly results. Shares of rate sensitive sectors to be in focus as RBI policy signals likely further rate hikes.

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

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

Stocks to Watch: HDFC AMC, Voda Idea, IDBI Bank, Bikaji, Axis, ICICI Bank

Stocks to Watch Today: Shares of rate sensitive sectors such as auto, banks, NBFCs and real estate are likely to be in focus owing to the RBI policy announcement on Wednesday.

Top Headlines: Vi's fundraising on hold, trade settlement in rupee & more

Business Standard brings you the top headlines at this hour

Govt clarifies foreign funds can own over 51% stake in IDBI Bank

This comes ahead of the December 16 deadline for potential bidders to submit EoIs for picking up majority stake in the private sector lender

Govt to allow consortium of foreign funds to own over 51% in IDBI Bank

The Indian government will allow a consortium of foreign funds and investment firms to own more than 51% in IDBI Bank Ltd, according to a government clarification on Tuesday

IDBI Bank hits 52-week high, rallies 15% in four days on heavy volumes

Finance ministry on Sunday has clarified that IDBI Bank will continue to operate as an 'Indian private sector bank' after its strategic sale.

Will the dream run continue for banks?

As the war for deposits escalates, the cost of money will rise and banks' NIM will be under pressure. Also, a few banks may invite trouble by aggressively growing their retail books without necessary

Near term margins may remain subdued for Astral, high valuation weighs

The company underperformed peers on the volume front in Q2, though margin impact was lower given value-added mix

Budget 2023-24: Disinvestment target likely to stay elevated for FY24

The sources said that the government expects over Rs 60,000 crore from the IDBI stake sale.

Disinvestment target for FY24 to be at a 'realistic level' of Rs 65K-crore

Centre's receipts from disinvestment till November in FY23 stand at Rs 24,544 crore

IDBI announces new deposit scheme, lifts deposit rate to 7% for 700 days

The bank has also tweaked the deposit rate for 555 days

IDBI Bank's proposed stake sale likely to run into regulatory hurdle

Sebi raises concern over low public float in the lender

Jaypee Infra insolvency: Decks cleared for NARCL to buy first stress asset

Jaypee Infratech deal expected to close by early Nov

No govt, LIC veto post privatisation of IDBI, to give promoters free hand

The government and state-owned insurer LIC, who will continue to hold significant shareholding in IDBI Bank post its privatisation, will not veto any proposals of the new owner as part of their plan to give the incoming promoters a free hand, a senior official said. The government earlier this month invited bids for the sale of 60.72 per cent stake in IDBI Bank, which is 45.48 per cent owned by the government and 49.24 per cent by the Life Insurance Corporation of India (LIC). At Friday's closing price of Rs 44.30, IDBI Bank is valued at Rs 47,633 crore but the government is looking for at least 30 per cent markup in the sale. At the current price, sale of 61 per cent stake would fetch about Rs 29,000 crore to the government. The official said post-privatisation, the government and LIC shareholding will come down to 34 per cent but they do not intend to move in tandem to block any special resolution proposed by the new promoter. This is with a view to assuaging the concerns of ...

State Bank of India, IDBI Bank hike retail fixed deposit rates

For 1 year to less than 2 years, SBI is offering 6.10% as compared to 5.60% earlier