Mukul Agrawal

IDBI Bank’s shares fell by 16.5% as the government’s attempt to sell a majority stake failed due to low bids. The reserve price of Rs 92-98 per share was not met, with the highest bid at Rs 80-82. Fairfax, the only serious bidder, offered less due to employee resistance and regulatory issues. This has created uncertainty for the bank’s future and affected its overall performance.