The Mumbai Police on Sunday registered a first information report against Aam Aadmi Party leaders for holding a protest against party MP Raghav Chadha and six others merging with the Bharatiya Janata Party’s legislature party in the Rajya Sabha
Wipro’s Rs 15,000 crore buyback could give around 14 per cent returns to investors on tendering their shares in the short-term, according to a report of Moneycontrol citing HDFC Securities. The report has used the previous trends and the expected acceptance ratios to come up with the potential
Maharashtra Transport Minister Pratap Sarnaik is making practical Marathi language knowledge compulsory for all auto-rickshaw and taxi drivers in the state. A meeting is scheduled with drivers' associations to discuss the implementation. Starting May 1
On 8 March, a 26-year-old man died in a hospital in southern India's Tamil Nadu state, allegedly due to injuries he sustained in police custody. Almost two months later, his body is still in a hospital morgue. His parents say that they will collect it and conduct his last rites only after the
The 31-year-old Cole Allen, accused of opening fire at security personnel during the high-profile event in Washington, D.C., told the investigators that he intended to target officials linked to the Trump administration, according to a report by CBS News.The 31-year-old Cole Allen
IDBI Bank Sale 2
IDBI Bank Sale 2.0: Govt Panel To Review Next Phase Today
The core group of secretaries on disinvestment is set to meet on April 27 to review the strategic sale of IDBI Bank, marking the first high-level assessment since a fresh valuation exercise was initiated, according to a report by Moneycontrol. The development comes as Finance Minister Nirmala Sitharaman reiterated that the divestment process will continue despite earlier delays.
The meeting, chaired by the Cabinet Secretary, follows the decision to reassess valuations after initial financial bids reportedly fell short of expectations. Officials are expected to evaluate revised valuation benchmarks, gauge investor interest, and chart the way forward for the transaction structure, the report said.
The new valuation exercise is being viewed as a reset for the deal after earlier bids failed to meet the reserve price. The Centre is now recalibrating its expectations in line with prevailing market conditions to revive momentum in the sale process, as per the Moneycontrol report.
Officials are likely to deliberate on updated valuation benchmarks and outline the next steps, including timelines for engaging with interested bidders. The meeting is expected to set the stage for the next phase of the transaction, particularly negotiations with potential investors.
The government is also expected to align pricing more closely with market realities to avoid a repeat of the earlier mismatch between investor expectations and official valuations, the report added.
The core group of secretaries on disinvestment comprises senior officials from multiple departments, including the Department of Investment and Public Asset Management (DIPAM), financial services, economic affairs, and legal affairs, along with representatives from the administrative ministry and NITI Aayog. The panel is responsible for reviewing critical aspects such as valuation, transaction structure, and timelines.
The IDBI Bank privatisation process has been underway since 2022 and involves the sale of a 60.72% stake jointly held by the government and Life Insurance Corporation of India, along with the transfer of management control.
The proposed transaction is among India’s most significant banking privatisation efforts and requires alignment across valuation, investor appetite, and regulatory approvals.
The process has faced delays due to multiple challenges, including gaps between government valuation expectations and bidder offers, extended due diligence timelines, and changing market conditions. The upcoming review is expected to address these issues and help move the transaction closer to completion, according to Moneycontrol.
Source: News18
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