Announcements Strategic disinvestment of IDBI Bank Ltd

Strategic disinvestment of IDBI Bank Ltd

Government of India (GoI) is undertaking strategic disinvestment of ''IDBI Bank Ltd.'' with transfer of management control, by reducing the GoI and Life Insurance Corporation (LIC) equity in the entity. Such a banking transaction by inviting open, competitive bids is being undertaken for the first time in the country. IDBI Bank, with a network of 1884 domestic branches and foreign presence, turned profitable in FY 2021 with Capital Adequacy Ratio remaining at more than 19%, which is higher that what is required by Regulation.

A total of 60.72% of IDBI Bank's equity is being offered for disinvestment in the transaction, with GoI offering 30.48% (post-sale GoI's residual equity to be 15%) and LIC offering 30.24% equity for disinvestment (post -sale LICs residual equity to be 19%). Broad contours of the transaction may be seen at Annexure. Foreign banks and investment vehicles incorporated outside India, among others, are eligible to participate.

The Preliminary Information Memorandum (PIM) for inviting Expression of Interest (EoI) from potential bidders has been published on October 7, 2022. The same is available on the following websites:

4. IDBI Bank at

4. The last date for submission of EoI (electronically) is December 16, 2022, with the last date for submission of the required physical copies being December 23, 2022.

5. Transaction adviser (TA) in the matter is KPMG who can be reached out by the interested bidder for further clarification at the following email ID: