The Centre on Friday invited Expression of Interest (EoI) for the privatisation of and has set December 16 as the last date to submit the bids.
The government will divest a 30.48 per cent stake in the lender and the Life Insurance Corp of India (
) will sell a 30.24 per cent stake.
The Cabinet Committee of Economic Affairs had given in-principle approval for the strategic disinvestment of IDBI Bank in May 2021.
The government owns a 45.48 per cent stake in the public sector lender, while LIC holds a 49.24 per cent stake. LIC is currently the promoter of the bank.
The Centre aims to raise Rs 65,000 crore through divestment in 2022-23 (April-March), of which, it has raised about Rs 24,500 crore so far.
