Given extended holidays after Diwali, the department of investment and public asset management (DIPAM) has given 13 more days till November 10 to interested parties to submit their written queries concerning the proposed disinvestment of the majority stake and transfer of management control in IDBI Bank.
On October 7, the Centre invited expressions of interest (EoIs) for IDBI Bank and offered to sell a total of 60.72% stake in the bank, including 30.48% held by the government and 30.24% by LIC. Currently, LIC (49.24%) and the government (45.48%) together hold a 94.72% stake in the lender.
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The interested parties were earlier supposed to submit written queries by October 28.
The last date for submission of an expression of interest (EoI) for the bank is December 16, 2022.