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Proposed Strategic Disinvestment of IDBI Bank Ltd.

Posted on: November 16, 2022 | Back | Print

Government of India (GoI) is undertaking the strategic disinvestment of IDBI Bank Ltd. (henceforth, "IDBI Bank"), with transfer of management control, by reducing the GoI and Life Insurance Corporation (LIC) equity in the entity. Such a Banking transaction by inviting open, competitive bids is being undertaken for the first time in the country. IDBI Bank, with a network of 1,884 domestic branches and foreign presence, turned profitable in FY21 with Capital Adequacy Ratio remaining at more than 19%, which is higher than what is required by Regulation.

2. A total of 60.72% of IDBI Bank's equity is being offered for disinvestment in the transaction, with GoI offering 30.48% (post-sale GOI's residual equity to be 15%) and LIC offering 30.24% equity for disinvestment (post-sale LIC's residual equity to be 19%). Broad contours of the transaction may be seen at Annexure.

3. The Preliminary Information Memorandum (PIM) for inviting Expression of Interest (EoI) from potential bidders has been published on 7th October, 2022. The same is available on the following websites-

             1. DIPAM at https://dipam.gov.in/

             2. DFS at https://financialservices.gov.in/

             3. LIC at https://licindia.in/

             4. IDBI Bank at https://www.idbibank.in/

             5. TA at https://home.kpmg/in

4. The last date for submission of EoI (electronically) is 16th December, 2022 with the last date for submission of the required physical copies being 23rd December, 2022.

5. GoI’s transaction adviser (TA) in the matter is KPMG who can be reached out by the interested bidders for further clarification, if any (in-fmidbibankquery@kpmg.com).



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