Shriram Group likely to submit EoI for privatisation of IDBI Bank
Entry of Shriram Group as a bidder, could set the stage for at least a two-way contest for IDBI Bank with Prem Watsa's Fairfax Financial also believed to be a contender14-10-2022
14-10-2022
IDBI BANK LTD. - 500116 - Statement Of Investor Complaints For The Quarter Ended September 2022
No.of Investor complaints pending at the beginning of the quarter No.of Investor complaints received during the quarter No.of Investor complaints disposed of during the quarter No.of Investor complaints unresolved at the end of the quarter 43728365973 Name of the Signatory :- Jyothi Biju NairDesignation :- Company Secretary and Compliance Officer12-10-2022
Government may sell residual stake post strategic disinvestment in IDBI Bank to public
Decision to be taken at appropriate stage, says DIPAM Secretary Pandey11-10-2022
IDBI Bank: Corporates cannot be bidding consortium members, says official
Large corporates have been disallowed from being even a minority shareholder in consortium wanting to bid for 61 per cent stake in IDBI Bank, as the current RBI norms bar industrial houses from becoming bank promoters, an official said. Currently, RBI guidelines allow industrial houses to hold a maximum of 10 per cent stake in private sector banks, but they cannot be a promoter. Last week, the government along with Life Insurance Corporation (LIC) invited Expression of Interest (EoI) for selling 60.72 per cent stake in IDBI Bank. However, it barred large industrial houses from participating in the strategic sale. As per the bid document, 'large industrial/corporate houses' has been defined an industrial/ corporate group with assets of Rs 5,000 crore or more with the non-financial business of the group accounting for 40 per cent or more in terms of total assets/ gross income. An official said that corporate houses have not been permitted to participate in the bidding process for IDB11-10-2022
Financial bids for IDBI Bank likely to be invited by March: Officials
The financial bids for IDBI Bank privatisation is likely to be invited by March and the conclusion of the sale process is expected in the next financial year, officials said. Last week, the government along with Life Insurance Corporation (LIC) invited preliminary bids for selling 60.72 per cent stake in IDBI Bank. The last date for putting in Expression of Interest (EoI) is December 16. Once the EoIs come in and the interested parties clear RBI's 'Fit and Proper' assessment and gets Ministry of Home Affairs (MHA) security clearance, data room access would be given to qualified bidders. It is only after due diligence, that bidders would put in financial bids. Usually it takes about six months for the process of due diligence to get completed and financial bids to come in. We hope to invite financial bids for IDBI Bank by March, officials added. Considering that this would be the first case of strategic sale in bank, a lot of queries are expected to be raised during the due diligenc10-10-2022
IDBI Bank bidders need to seek MHA security clearance in bidding process
In a first, the government has made it mandatory for interested buyers of IDBI Bank to provide details for security clearance from the Ministry of Home Affairs (MHA) in the first stage of the bidding process. So far, in all instances of CPSE privatisation, the government would seek details regarding security clearance of the bidders at the second stage of the bidding process. This meant that bidders who qualified in the first or the Expression of Interest (EoI) round, were required to seek security clearance from the government while placing their financial bids. Inviting Expression of Interest (EoI) from bidders for buying the government and LIC's 60.72 per cent in IDBI Bank, the Department of Investment and Public Asset Management (DIPAM) said interested parties (IPs) who clear the 'Fit & Proper' assessment by RBI and the security clearance by the government/MHA shall be notified as the Qualified Interested Parties (QIPs). Only the QIPs will get access to the data room of IDBI ..09-10-2022
LIC, Centre to sell 60.7% stake in IDBI Bank, invite initial bids
LIC to prune stake to 19% from 49.2%, govt to bring down its stake to 15% from 45.5%; Even without premium, LIC could mop up Rs 13,844 cr, and Centre, Rs 13,994 cr from a successful stake sale07-10-2022
IDBI BANK LTD. - 500116 - Strategic Disinvestment Of IDBI Bank Ltd. -Issue Of Preliminary Information Memorandum (PIM)/ Expression Of Interest (Eoi)
Issue of Preliminary Information Memorandum (PIM)/ Expression of Interest (EoI). Details as per attachment.07-10-2022
IDBI Bank forays into ONDC to help MSMEs set up their digital stores
This announcement came in the wake of a slew of initiatives the bank announced on the occasion of its 59th edition of its Foundation Day.04-10-2022
IDBI BANK LTD. - 500116 - Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
In terms of Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, based on the certificates received from KFin Technologies Ltd. (RTA) which is enclosed herewith, we hereby confirm that the details of securities dematerialized/ rematerialized during the quarter ended September 30, 2022, have been furnished to all the stock exchanges where the shares of the Bank are listed. You are requested to take the above on record and acknowledge.04-10-2022