To sell stake in this bank from government bank to private

To sell stake in this bank from government to private For this, the government did a road show in America, in 3-4 weeks
EoI possible IDBI Bank went from government to private Government held a roadshow in America for disinvestment, media
According to reports, 10 PE investors were invited in the roadshow.
Made a presentation for stake sale in IDBI Bank.
Made presentations to investors like TPG Capital and Blackstone Gone. Also PE investors like KKR and Warburg Pincus be present. Government currently in IDBI Bank at a premium wants to sell a share. DIPAM, LIC and Join the big rights roadshow for IDBI Bank. According to reports, the part will be for sale in three to four weeks.
Expression of Interest (EoI) may come.
Government’s target in IDBI Bank by the end of September 2022
stake is to be sold. Government stake in IDBI Bank 45.48 percent and LIC has 49.24 percent stake. before In this phase, 26 to 45 percent stake in IDBI Bank will be sold. Make some part of LIC for the benefit of the insurance channel Will keep Government for a long time to sell stake in IDBI Bank Efforts are being made since then, but this work is not yet completed. Have got. Changes in the rules regarding banking regulation last year happened. Under the new rule, promoters of the bank after 15 years are now 26
Can hold up to a percentage point. Earlier this share 15 Percent was the limit. Now after 5 years, the promoters hold their stake
It can also be reduced by 26 percent. 74 percent in the banking sector
Foreign investment has been approved.
LIC acquired IDBI Bank in 2019
Country’s largest insurance company Life Insurance Corporation of India
(LIC) has invested 8.27 crores of IDBI Bank in the year 2019.
Additional shares were acquired. Since then this bank Has become a subsidiary of LIC.
The government has earmarked Rs 65,000 crore for the financial year 2023.
Estimated disinvestment target. Government has so far disinvested
23,575 crores raised from Rs. Out of this, 20,560 crore is from LIC.
3,000 cr from IPO and in government explorer ONGC
1.5% is from sales.
Profit up 35 percent in the fourth quarter
IDBI Bank’s net profit in the fourth quarter of the financial year 2021-22
35% increased to Rs 691 crore. stuck in debt
The reduction has increased the profit of the bank. previous financial year ie
Bank’s net profit in the January-March quarter of 2020-21 512
crore was Rs. Its total income declined to Rs 5,444.08 crore in the fourth quarter.
6,894.86 in the corresponding quarter of the previous financial year. crore was Rs. Main interest income finance of private sector bank 4,599.67 crore in the last quarter of the year 2021-22 Rs. It was 5,781.48 in the same period a year ago. crore was Rs.