IDBI Bank strategic sale may conclude by October, govt to soon invite bids: Official

The strategic sale of IDBI Bank is likely to be concluded by October and the government has discussed the share purchase agreement, which will be given to bidders putting in financial bids, an official has said.

The privatisation of IDBI Bank has been in process for close to three years now.

In October 2022, the government, together with LIC, had invited EoI (Expression of Interest) from investors for privatising IDBI Bank by selling a total of 60.72% stake. This includes a 30.48% stake of the Government of India and 30.24% of LIC.

The official stated that the due diligence process for the data room is currently underway, and the government will soon invite financial bids.

"The strategic stake sale in the IDBI Bank is likely to be concluded by October," the official said.

Pursuant to inviting EoIs in October 2022, the DIPAM, in January 2023, received multiple EoIs for IDBI Bank.

The prospective buyer of IDBI Bank has already been granted security clearance by the Ministry of Home Affairs (MHA) and cleared fit and proper evaluation by the Reserve Bank of India (RBI).

At the time of writing, the shares of IDBI Bank were trading 0.1% lower at ₹99.78 apiece on the National Stock Exchange (NSE). In the morning, the stock surged 2.2% to an intraday high of ₹102.08.

It has lost 1.3% so far this week and 3.44% since the beginning of July. It surged 33.11% in the first quarter of FY26 and 30.58% on a year-to-date basis.

The scrip reached a 52-week low of ₹65.89 apiece on January 13, 2025, while hitting a year's high of ₹107.90 almost a year ago on July 29, 2024.

IDBI Bank has a total market capitalisation of ₹1.07 lakh crore, as of July 10, 2025, as per data on the NSE.