IDBI Bank stake sale bid submission deadline ends on January 7
the government is hopeful of strong interest in the first round of bidders for IDBI Bank divestment.
The deadline to submit preliminary bids for IDBI Bank divestment closes tomorrow, January 7, 2023, after multiple extensions.
The first clear indication or the buzz, at least in Delhi, is pointing towards a probably a good show of potential bidders in the primary bids. It has given to understand, that probably the government is hopeful of the strong interest in the first round, at least.
If one looks at the kind of road shows. which happened for IDBI at that point in time, there were certain entities that were very much in the race. For example, KKR, a Fairfax or the Carlyle Group, probably even JC Flowers, probably even the Mitsui Group. Some of these participants had attended some of the road shows of IDBI Bank. So there is an expectation that probably at least some of them may come forward in terms of throwing their hat in the ring.
The government is not going to open the cards at all. In fact, they will not even know about it. Because this is a process run very cleanly by the transaction adviser (TA). And there is always an arm's length even between the government and the way the process is run by the TA.
However, the interest is not going to be small. It could be quite significant and the ensuing months are going to be very interesting because this is one bank where one can see participants and potential buyers coming forward.
The stock was up 7.88 percent in the last week and 0.08 percent in the past month.
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