Centre to fully exit IDBI Bank once it gets 'upside value': Dipam secy

'Time period for IDBI Bank to meet public to be notified soon'

The government will soon notify the exemption period for meeting the public-shareholding norm for the prospective owner of IDBI Bank, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey told Business Standard.

He said the government would make a complete exit from IDBI Bank when it received the “upside value” on the remaining stake after acquisition.

He said the government had received interests from both global and domestic investors to acquire a majority stake in the bank in the first such transaction in the banking sector. The senior bureaucrat expects to close the deal by September-October.

“We