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IDBI Bank Divestment Advances with Financial Due Diligence Underway

Due DiligenceIDBI Bank Divestment Advances with Financial Due Diligence Underway

The divestment process at IDBI Bank is progressing as potential bidders conduct financial due diligence for the acquisition of a 60.72% stake. The bank has formed a dedicated team to manage the process, which is expected to conclude by September, with final bids anticipated by December. Bidders include Kotak Mahindra Bank, Fairfax India Holdings, Sumitomo Mitsui Financial Group, and Emirates NBD. The government aims to finalize the transaction by March 2024, with the bank’s improved financials since the previous scrutiny expected to facilitate the due diligence process.

By FCCT Editorial Team

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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