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IDBI Bank shares tumble after govt stake sale plans reportedly scrapped
IDBI Bank shares tumble after govt stake sale plans reportedly scrapped
IDBI Bank shares tumble after govt stake sale plans reportedly scrapped
IDBI Bank's share price fell as much as 15.34% to an intraday low of ₹78.05 apiece on the BSE even as the benchmark S&P BSE Sensex remained largely flat.
Updated on: Mar 16, 2026 10:09 AM IST By HT Business Desk Share via Copy link The stock of IDBI Bank Ltd. fell the most since at least June 2024 after reports that the government has decided to scrap its stake-sale plans due to lacklustre bidding. The government is set to scrap the bids it received for a majority stake in IDBI Bank as the amounts were below the minimum price sought. (Mint) On Monday (16 March 2026), IDBI Bank's share price fell as much as 15.34% to an intraday low of ₹78.05 apiece on the BSE even as the benchmark S&P BSE Sensex remained largely flat. The government is set to scrap the bids it received for a majority stake in IDBI Bank Ltd. as the amounts were below the minimum price sought, Bloomberg News reported, citing people with knowledge of the matter. That, effectively, brings a halt to the IDBI Bank stake sale process, they said. While the sources didn’t identify the bidders, Bloomberg News had previously reported that Fairfax Financial Holdings Ltd. was the frontrunner for what would have been the biggest foreign investment in India’s banking sector, and that Emirates NBD had also bid. The 61% stake that the government and a state-run insurer planned to sell in the private lender is worth about $6.5 billion at the current market price. The Narendra Modi-led government has been looking to sell the Mumbai-based lender for several years, part of its efforts to pare state ownership in the banking sector. IDBI Bank returned to profitability in recent years after capital support and aggressive recoveries helped it cut non-performing assets. ABOUT THE AUTHOR HT Business Desk The HT Business Desk provides comprehensive coverage of the Indian and global financial markets. Based in Mumbai and New Delhi, the team tracks everything from Sensex and Nifty movements to the latest from India Inc., trade deals, and macroeconomic policy. We aim to empower readers with timely, fact-checked news that clarifies the complexities of the business world.Read More Idbi Bank Stay updated with the latest Business News on Petrol Price, Gold Rate, Silver Rates, Diesel Prices along with Income Tax Calculator News / Business / IDBI Bank Shares Tumble After Govt Stake Sale Plans Reportedly Scrapped See LessThe stock of IDBI Bank Ltd. fell the most since at least June 2024 after reports that the government has decided to scrap its stake-sale plans due to lacklustre bidding.
On Monday (16 March 2026), IDBI Bank's share price fell as much as 15.34% to an intraday low of ₹78.05 apiece on the BSE even as the benchmark S&P BSE Sensex remained largely flat.
The government is set to scrap the bids it received for a majority stake in IDBI Bank Ltd. as the amounts were below the minimum price sought, Bloomberg News reported, citing people with knowledge of the matter. That, effectively, brings a halt to the IDBI Bank stake sale process, they said.
While the sources didn’t identify the bidders, Bloomberg News had previously reported that Fairfax Financial Holdings Ltd. was the frontrunner for what would have been the biggest foreign investment in India’s banking sector, and that Emirates NBD had also bid.
The 61% stake that the government and a state-run insurer planned to sell in the private lender is worth about $6.5 billion at the current market price.
The Narendra Modi-led government has been looking to sell the Mumbai-based lender for several years, part of its efforts to pare state ownership in the banking sector. IDBI Bank returned to profitability in recent years after capital support and aggressive recoveries helped it cut non-performing assets.
Source: HindustanTimes
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