Overview

• Qualified bidders have nearly completed due diligence, with all requested data and technical documents provided, and officials expect this phase to finish by September.
• The government and LIC together hold about 95% of IDBI Bank, with 60.72% earmarked for the strategic sale now moving toward the next steps.
• DIPAM reported roughly ₹20,000–22,000 crore raised in the first quarter toward its ₹47,000 crore asset monetisation target for the year.
• An inter-ministerial group comprising DIPAM, merchant bankers and LIC will decide on any further LIC stake sales, with deal sizes designed for market liquidity given LIC’s ~₹6 lakh crore value.
• IDBI Bank shares rose about 9% after the secretary’s comments signaled an accelerated timetable for the divestment.