Idbi Bank

Govt eyes IDBI financial bids by June, stake sale completion in FY24 itself

Govt has made several provisions and brought regulatory clarity to make deal attractive for bidders. These include allowing a consortium of foreign entities to own over 51% in the Bank

Ex- IDBI GM conspired with Mallya over loan to Kingfisher Airlines: CBI

A senior IDBI Bank official allegedly conspired with businessman Vijay Mallya for sanction and disbursement of loan to the latter's Kingfisher Airlines, the Central Bureau of Investigation said in its supplementary chargesheet filed in a Mumbai court. Mallya is an accused in the alleged Rs 900-crore IDBI Bank-Kingfisher Airlines loan fraud case, which is being probed by the CBI. The Central agency had recently filed a supplementary chargesheet before a special CBI court here. As per the chargesheet, former IDBI Bank general manager Buddhadev Dasgupta abused his position, conspired with colleagues and Mallya in the matter of sanction and disbursement of short term loan (STL) of Rs 150 crore to Kingfisher Airlines in October 2009. Along with 11 accused named in the earlier chargesheets, the CBI has added the name of Dasgupta in the supplementary chargesheet filed recently. As per the CBI, the STL was requested for six months to meet certain critical obligations to overseas vendors,

IDBI Bank privatisation on track as per strategic sale process: DIPAM

The government on Friday said the disinvestment of IDBI Bank is on track as per the defined strategic sale process. Debunking media reports which indicated a possibility of deferment of IDBI Bank disinvestment, the Department of Investment and Public Asset Management (DIPAM) said the stake sale is in the post-EoI stage. "The transaction continues to be on track as per the defined process in post-EoI stage following receipts of multiple EoIs," DIPAM Secretary Tuhin Kanta Pandey tweeted. The government and the LIC are together selling about 61 per cent stake in IDBI Bank and had in January received multiple Expressions of Interest (EoIs) for the same. DIPAM, which manages government holding in state-owned enterprises, in October last year invited EoIs for selling a 30.48 per cent stake in IDBI Bank, along with LIC's 30.24 per cent stake in the bank. The government and LIC together hold a 94.72 per cent stake in IDBI Bank, which will come down to 34 per cent after the strategic ...

IDBI Bank proclaims Kapil & Dheeraj as wilful defaulters of Rs 758 cr loans

After dilly-dallying for over two years, the IDBI Bank Ltd. has finally declared the DHFL promoters and siblings -- Kapil Wadhawan and Dheeraj Wadhawan -- as 'wilful defaulters'

Kotak Mahindra Bank added to FTSE index nine years after being removed

Move follows sustained dip in FPI holding in the counter; IDBI Bank, Patanjali among other stocks to get in

FY24 disinvestment target pragmatic, but challenging: Dipam Secy Pandey

'Privatisation processes are BMMP (bandwidth, market available, minority shareholders, and the process)', said Tuhin Kanta Pandey

IDBI manager held for swindling money from customers' accounts in B'luru

Karnataka police have arrested a relationship manager of IDBI bank in Bengaluru in connection with transferring Rs 4.92 crore illegally to various accounts, police said on Monday

IDBI Bank Q3 net up 60% YoY to Rs 927 cr on improvement in margin

Transfers JP Infratech account to NARCL in January

IDBI Bank posts record-high Q3 profit of Rs 927 crore on lower provisions

Most Indian banks have managed to improve their asset quality helped by a clean-up of balance sheet, write-offs and recoveries, and by ensuring that new slippages remained in check

ING planning return to India by buying controlling stake in IDBI Bank

The government and the Life Insurance Corporation of India together may sell 60.72 per cent of IDBI Bank

Financial bids for IDBI Bank expected to come in by Sept: DIPAM Secy

The government is expecting to get financial bids for IDBI Bank's strategic sale by September, DIPAM Secretary Tuhin Kanta Pandey said. Several global and domestic institutions have expressed interest in buying about 61 per cent of the government and Life Insurance Corporation's (LIC) stake in IDBI Bank and had put in preliminary bids, the last date of which was January 7. Overall, we are looking at financial bids at least before second half (October-March) of next fiscal year, Pandey told PTI in an interview. The Department of Investment and Public Asset Management (DIPAM), which manages government holding in state-owned enterprises, had in October invited bids for selling 30.48 per cent stake in IDBI Bank, along with 30.24 per cent stake of LIC. The government and LIC together hold 94.72 per cent stake in IDBI Bank, which will come down to 34 per cent after the strategic sale. Talking about the way forward in the strategic sale, Pandey said the work on two set of clearances ...

FY24 disinvestment target to be around Rs 60K-cr, big ticket deals unlikely

The government's decision to not list any new entity for privatisation may be because of the prevailing market conditions

Top Headlines: Google challenges CCI's ruling, govt to fully exit IDBI Bank

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Stocks to Watch: TCS, SBI, Tata Motors, LIC, Paytm, IDBI Bank, ONGC, PVR

Stocks to Watch: TCS reported 11 per cent YoY growth in Q3 net, while revenue beat analyst expectations at Rs 58,229 crore.

IDBI Bank gets domestic, global bids for stake sale, says Dipam secy

On Saturday, the government said it got multiple bids for the majority stake in IDBI Bank

Stocks to Watch: TCS, Paytm, PTC, Lodha, Heritage Foods, Electronics Mart

Stocks to Watch: TCS and other IT stocks in focus, as the Tata Group IT major will be reporting its Q3 earnings on Monday.

IDBI Bank stake sale: Suitors may have to place financial bids by March

Shortlisted bidders would be asked for Financial bids By March

As deadline ends, Centre gets multiple bids for majority stake in IDBI bank

The government, which owns 45.48% of IDBI Bank, is looking to divest a 30.48% stake in the lender

Financial, IT shares drag Sensex 453 pts, ends below 60K; Nifty near 17,850

Closing Bell: Nifty IT fell 2 per cent followed by 0.7-1 per cent cuts each in Bank, Financial, Metal, Realty and Pharma indices. FMCG and Consumer Durables outperformed with fractional gains

IDBI Bank up 5% on Sebi nod to reclassify govt post sale-stake as 'public'

At present, the government and state-owned Life Insurance Corporation hold a little over 94 per cent in IDBI Bank and are classified as co-promoters.