IDBI Bank: Transaction Advisor’s deadline for bidding for sale of IDBI Bank extended

IDBI Bank: The deadline for bidding of transaction advisors for the sale of IDBI Bank has been extended. This step has been taken by the Central Government.

IDBI Bank: The Central Government has extended the deadline for submission of bids for Transaction Advisor for Strategic Disinvestment of IDBI Bank to July 22.Also Read – Corona Virus In India: These 6 states increased the concern of the government, special team sent to control Covid-19

Apart from this, the deadline for submission of bids for Legal Adviser has also been extended by 9 days to July 22. Also Read – 7th Pay Commission: Big news for central employees, DA / DR will be paid with arrears of two months from the month of September

The Department of Investment and Public Asset Management (DIPOM) said that the bid submission for Transaction Advisor and Legal Advisor ends at 3.30 pm. The bids will be opened on 22nd July at 4 PM, and on 23rd July at 3.50 PM and 4.30 PM. Also Read – Economic relief package: Center earmarks Rs 3.03 lakh crore for electricity distribution scheme

The previous deadline for submission of bids was July 13.

The department has also clarified that the Government of India’s stake in Life Insurance Corporation of India (LIC) and IDBI Bank will be sold in an immediate transaction along with transfer of management control.

It added that the quantum of stake can be decided during the course of the deal.

LIC holds 49.24 per cent stake in the bank while the government holds 45.48 per cent.

During the budget presentation for FY22, Finance Minister Nirmala Sitharaman had said that all the disinvestment processes announced earlier in this financial year, including that of IDBI Bank, will be completed.


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