02-May-2024
Banking
 
IDBI Bank strategic sale: Most merchant bankers indicate 52 weeks' time
20-Sep-2021

Most of the merchant bankers who had submitted bids for facilitating strategic sale of LIC-controlled IDBI Bank indicated a time-frame of one year to complete the elaborate process, sources said. During a presentation before the Department of Investment and Public Asset Management (DIPAM) held recently, most of the eligible transaction advisers gave a time-frame of 50-52 weeks to undertake several stages of the privatisation process of IDBI Bank, market sources said. However, the government intends to complete the transaction during the current fiscal itself. Thus the merchant banker has to find a buyer in about 26 weeks or six months.

News Source:- https://economictimes.indiatimes.com/industry/banking/finance/banking/idbi-bank-strategic-sale-most-merchant-bankers-indicate-52-weeks-time/articleshow/86338225.cms?utm_source=ETTopNews&utm_medium=HP&utm_campaign=TN&utm_content=23