• About Us
  • Contact Us
Current Date

  • Login
  • Register
B2B Market Media
  • Home
  • Fintech
    UGRO Capital to raise Rs 1,315 crore for MSME lending expansion

    UGRO Capital to raise Rs 1,315 crore for MSME lending expansion

    MobiKwik unveils Pocket UPI for better budgeting and security

    MobiKwik unveils Pocket UPI for better budgeting and security

    Zaggle and Mesh Payments to advance global spend management market for India

    Zaggle and Mesh Payments to advance global spend management market for India

    BharatPe raises Rs 125 crore in debt funding for business expansion

    BharatPe raises Rs 125 crore in debt funding for business expansion

    Bankbazaar makes its debut in gold loans with Muthoot Fincorp partnership

    Bankbazaar makes its debut in gold loans with Muthoot Fincorp partnership

    Zaggle receives TPAP approval from NPCI for UPI-based payment solutions

    Zaggle receives TPAP approval from NPCI for UPI-based payment solutions

  • BFSI
    FIDC announces Raman Aggarwal as its new CEO

    FIDC announces Raman Aggarwal as its new CEO

    Dhansafal signs co-lending deal with Vastu Finserve to bridge credit gaps

    Dhansafal signs co-lending deal with Vastu Finserve to bridge credit gaps

    Digital resilience in focus as BharatCoop 2025 gathers industry pioneers

    Digital resilience in focus as BharatCoop 2025 gathers industry pioneers

    IIFL Finance gets RBI nod to open Branches in Jammu & Kashmir

    IIFL Finance gets RBI nod to open Branches in Jammu & Kashmir

    Bajaj Finance embarks on digital overhaul with PennApps Lending Factory

    Bajaj Finance embarks on digital overhaul with PennApps Lending Factory

    SBM Bank India and ICICI Prudential Life Insurance to offer comprehensive financial protection

    SBM Bank India and ICICI Prudential Life Insurance to offer comprehensive financial protection

  • Education
    Punjab strengthening higher education with strategic reforms

    Punjab strengthening higher education with strategic reforms

    Technology and innovation shine at WEBCon 2025 in Chandigarh

    Technology and innovation shine at WEBCon 2025 in Chandigarh

    Driving academic excellence via examination reforms, digital transformation and global collaborations

    Exclusive | Globalisation in higher education: Making Indian universities world-class author 

    Exclusive | Globalisation in higher education: Making Indian universities world-class author 

    Exclusive | Balancing academic excellence, industry needs and sustainability in higher education

    Exclusive | Balancing academic excellence, industry needs and sustainability in higher education

    Upskilling faculty for the digital age: Challenges, strategies and opportunities 

    Upskilling faculty for the digital age: Challenges, strategies and opportunities 

  • Enterprise
    B2B Market Media | The Founder Media hosts Jury Meet for OOH Phoenix Awards 2025

    B2B Market Media | The Founder Media hosts Jury Meet for OOH Phoenix Awards 2025

    Cashfree Payments and Shopify partner to introduce onsite payments for Indian merchants

    Bharti Airtel and Bajaj Finance join forces to build digital financial platform

    Abhinandan Narayan joins Revfin as Chief Business Officer

    Abhinandan Narayan joins Revfin as Chief Business Officer

    Swiggy elevates Sidharth Bhakoo as Chief Business Officer – Food Marketplace 

    Swiggy elevates Sidharth Bhakoo as Chief Business Officer – Food Marketplace 

    Usha Financial Services’s IPO sees strong demand, oversubscribes 1.31x on day one

    Nupur Recyclers reports strong Q2 FY25 financial performance, announces strategic expansion plans

    Paytm launches UPI SDK to enable customers pay directly within the merchant app

    Paytm Payments Bank names Manish Kumar as Chief Human Resources Officer

  • Health
    Healerji to redefine holistic healing and wellness

    Healerji to redefine holistic healing and wellness

    Kaisha Packaging’s Sycure AD bags Red Dot Award

    Kaisha Packaging’s Sycure AD bags Red Dot Award

    CCI approves acquisition of certain stake of Lenskart Solutions by Kedaara Capital Fund

    Bajaj Finserv Health acquires Vidal Health Care

    Perfios gets $229 million from Kedaara Capital

    Answer Genomics raises $500K in Pre-Series A Round from Inflection Point Ventures

    Perfios gets $229 million from Kedaara Capital

    Doceree raises $35 million in Series B funding, led by Creaegis

    Kenko Health launches ‘Kenko Pay’

    Kenko Health launches ‘Kenko Pay’

  • Pharma
    Kaisha Packaging’s Sycure AD bags Red Dot Award

    Kaisha Packaging’s Sycure AD bags Red Dot Award

    REC Limited signs $100 million foreign currency term loan agreement with EXIM Bank

    Cosmo and Glenmark sign distribution and licence agreements for Winlevi in Europe and South Africa

    Citi invests in Peru’s fintech firm Rextie

    Cabinet approves FDI in Suven Pharmaceuticals

    Transcell and Quantiphi develop Digital Animal Replacement Technology

    Transcell and Quantiphi develop Digital Animal Replacement Technology

    Lincoln Pharmaceuticals Reports Net Profit of Rs. 19.01 crore in Q1 FY24

    Lincoln Pharmaceuticals Reports Net Profit of Rs. 19.01 crore in Q1 FY24

    First Indian intranasal Covid vaccine to be launched on Republic Day

    First Indian intranasal Covid vaccine to be launched on Republic Day

  • Technology
    Poonawalla Fincorp introduces AI-backed regulatory response engine

    Poonawalla Fincorp introduces AI-backed regulatory response engine

    GoTrust raises $400K pre-seed funding to solidify data compliance offerings

    GoTrust raises $400K pre-seed funding to solidify data compliance offerings

    Coforge implements AI-driven Dispute Management module for financial services

    Coforge implements AI-driven Dispute Management module for financial services

    Firstsource names Shamita Mukherjee as new CHRO

    Firstsource names Shamita Mukherjee as new CHRO

    Acuity rolls out its AI platform Acuity Agent Fleet

    Acuity rolls out its AI platform Acuity Agent Fleet

    Patanjali’s Tech Arm debuts in banking sector with AI-driven ERP platform

    Patanjali’s Tech Arm debuts in banking sector with AI-driven ERP platform

  • Interviews
    Digital shift, local impact: How Janata Sahakari Bank is balancing legacy with innovation

    Digital shift, local impact: How Janata Sahakari Bank is balancing legacy with innovation

    Powering financial access in India

    Powering financial access in India

    Decimal Technologies scaling BFSI innovation with ‘no-code’ leadership

    Decimal Technologies scaling BFSI innovation with ‘no-code’ leadership

    Optimising FinTech with cloud: Faster, smarter and more secure

    Optimising FinTech with cloud: Faster, smarter and more secure

    Simplicity in technology makes life and business enjoyable

    Simplicity in technology makes life and business enjoyable

    SIDBI to lead in tech-driven solutions for MSME sector

    SIDBI to lead in tech-driven solutions for MSME sector

  • Events
  • Home
  • Fintech
    UGRO Capital to raise Rs 1,315 crore for MSME lending expansion

    UGRO Capital to raise Rs 1,315 crore for MSME lending expansion

    MobiKwik unveils Pocket UPI for better budgeting and security

    MobiKwik unveils Pocket UPI for better budgeting and security

    Zaggle and Mesh Payments to advance global spend management market for India

    Zaggle and Mesh Payments to advance global spend management market for India

    BharatPe raises Rs 125 crore in debt funding for business expansion

    BharatPe raises Rs 125 crore in debt funding for business expansion

    Bankbazaar makes its debut in gold loans with Muthoot Fincorp partnership

    Bankbazaar makes its debut in gold loans with Muthoot Fincorp partnership

    Zaggle receives TPAP approval from NPCI for UPI-based payment solutions

    Zaggle receives TPAP approval from NPCI for UPI-based payment solutions

  • BFSI
    FIDC announces Raman Aggarwal as its new CEO

    FIDC announces Raman Aggarwal as its new CEO

    Dhansafal signs co-lending deal with Vastu Finserve to bridge credit gaps

    Dhansafal signs co-lending deal with Vastu Finserve to bridge credit gaps

    Digital resilience in focus as BharatCoop 2025 gathers industry pioneers

    Digital resilience in focus as BharatCoop 2025 gathers industry pioneers

    IIFL Finance gets RBI nod to open Branches in Jammu & Kashmir

    IIFL Finance gets RBI nod to open Branches in Jammu & Kashmir

    Bajaj Finance embarks on digital overhaul with PennApps Lending Factory

    Bajaj Finance embarks on digital overhaul with PennApps Lending Factory

    SBM Bank India and ICICI Prudential Life Insurance to offer comprehensive financial protection

    SBM Bank India and ICICI Prudential Life Insurance to offer comprehensive financial protection

  • Education
    Punjab strengthening higher education with strategic reforms

    Punjab strengthening higher education with strategic reforms

    Technology and innovation shine at WEBCon 2025 in Chandigarh

    Technology and innovation shine at WEBCon 2025 in Chandigarh

    Driving academic excellence via examination reforms, digital transformation and global collaborations

    Exclusive | Globalisation in higher education: Making Indian universities world-class author 

    Exclusive | Globalisation in higher education: Making Indian universities world-class author 

    Exclusive | Balancing academic excellence, industry needs and sustainability in higher education

    Exclusive | Balancing academic excellence, industry needs and sustainability in higher education

    Upskilling faculty for the digital age: Challenges, strategies and opportunities 

    Upskilling faculty for the digital age: Challenges, strategies and opportunities 

  • Enterprise
    B2B Market Media | The Founder Media hosts Jury Meet for OOH Phoenix Awards 2025

    B2B Market Media | The Founder Media hosts Jury Meet for OOH Phoenix Awards 2025

    Cashfree Payments and Shopify partner to introduce onsite payments for Indian merchants

    Bharti Airtel and Bajaj Finance join forces to build digital financial platform

    Abhinandan Narayan joins Revfin as Chief Business Officer

    Abhinandan Narayan joins Revfin as Chief Business Officer

    Swiggy elevates Sidharth Bhakoo as Chief Business Officer – Food Marketplace 

    Swiggy elevates Sidharth Bhakoo as Chief Business Officer – Food Marketplace 

    Usha Financial Services’s IPO sees strong demand, oversubscribes 1.31x on day one

    Nupur Recyclers reports strong Q2 FY25 financial performance, announces strategic expansion plans

    Paytm launches UPI SDK to enable customers pay directly within the merchant app

    Paytm Payments Bank names Manish Kumar as Chief Human Resources Officer

  • Health
    Healerji to redefine holistic healing and wellness

    Healerji to redefine holistic healing and wellness

    Kaisha Packaging’s Sycure AD bags Red Dot Award

    Kaisha Packaging’s Sycure AD bags Red Dot Award

    CCI approves acquisition of certain stake of Lenskart Solutions by Kedaara Capital Fund

    Bajaj Finserv Health acquires Vidal Health Care

    Perfios gets $229 million from Kedaara Capital

    Answer Genomics raises $500K in Pre-Series A Round from Inflection Point Ventures

    Perfios gets $229 million from Kedaara Capital

    Doceree raises $35 million in Series B funding, led by Creaegis

    Kenko Health launches ‘Kenko Pay’

    Kenko Health launches ‘Kenko Pay’

  • Pharma
    Kaisha Packaging’s Sycure AD bags Red Dot Award

    Kaisha Packaging’s Sycure AD bags Red Dot Award

    REC Limited signs $100 million foreign currency term loan agreement with EXIM Bank

    Cosmo and Glenmark sign distribution and licence agreements for Winlevi in Europe and South Africa

    Citi invests in Peru’s fintech firm Rextie

    Cabinet approves FDI in Suven Pharmaceuticals

    Transcell and Quantiphi develop Digital Animal Replacement Technology

    Transcell and Quantiphi develop Digital Animal Replacement Technology

    Lincoln Pharmaceuticals Reports Net Profit of Rs. 19.01 crore in Q1 FY24

    Lincoln Pharmaceuticals Reports Net Profit of Rs. 19.01 crore in Q1 FY24

    First Indian intranasal Covid vaccine to be launched on Republic Day

    First Indian intranasal Covid vaccine to be launched on Republic Day

  • Technology
    Poonawalla Fincorp introduces AI-backed regulatory response engine

    Poonawalla Fincorp introduces AI-backed regulatory response engine

    GoTrust raises $400K pre-seed funding to solidify data compliance offerings

    GoTrust raises $400K pre-seed funding to solidify data compliance offerings

    Coforge implements AI-driven Dispute Management module for financial services

    Coforge implements AI-driven Dispute Management module for financial services

    Firstsource names Shamita Mukherjee as new CHRO

    Firstsource names Shamita Mukherjee as new CHRO

    Acuity rolls out its AI platform Acuity Agent Fleet

    Acuity rolls out its AI platform Acuity Agent Fleet

    Patanjali’s Tech Arm debuts in banking sector with AI-driven ERP platform

    Patanjali’s Tech Arm debuts in banking sector with AI-driven ERP platform

  • Interviews
    Digital shift, local impact: How Janata Sahakari Bank is balancing legacy with innovation

    Digital shift, local impact: How Janata Sahakari Bank is balancing legacy with innovation

    Powering financial access in India

    Powering financial access in India

    Decimal Technologies scaling BFSI innovation with ‘no-code’ leadership

    Decimal Technologies scaling BFSI innovation with ‘no-code’ leadership

    Optimising FinTech with cloud: Faster, smarter and more secure

    Optimising FinTech with cloud: Faster, smarter and more secure

    Simplicity in technology makes life and business enjoyable

    Simplicity in technology makes life and business enjoyable

    SIDBI to lead in tech-driven solutions for MSME sector

    SIDBI to lead in tech-driven solutions for MSME sector

  • Events
No Result
View All Result
B2B Market Media
No Result
View All Result
Home Enterprise

Government likely to get financial bids for IDBI Bank sale by September, DIPAM Secy says

by
2 years ago
in BFSI, Enterprise
A A
0
No PSU norms for IDBI Bank after stake sale, clarifies govt
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

Financial bids for IDBI Bank’s strategic sale is expected to be received by the government in September, said DIPAM Secretary Tuhin Kanta Pandey.

Several global and domestic institutions have expressed interest in buying about 61 per cent of the government and Life Insurance Corporation’s (LIC) stake in IDBI Bank and had put in preliminary bids, the last date of which was January 7.

“Overall, we are looking at financial bids at least before second half (October-March) of next fiscal year,” PTI quoted Pandey as saying.

The bids for selling 30.48 per cent stake in IDBI Bank, along with 30.24 per cent stake of LIC were invited by the Department of Investment and Public Asset Management (DIPAM) in October.

The government and LIC together hold 94.72 per cent stake in IDBI Bank, which will come down to 34 per cent after the strategic sale.

Talking about the way forward in the strategic sale, Pandey said the work on two set of clearances – security clearance from government and Fit and Proper clearance from the RBI – would go on parallelly.

“Once it (security clearance and Fit and Proper clearance) is cleared we qualify them ( bidders). Then we take them to the virtual data room on signing of non-disclosure undertaking. Then they can do due diligence and draft agreements will be shared,” Pandey said.

The respective agencies will have “intensive work” before the bidders can be qualified for the second round, the Secretary said, without disclosing the timeline for the clearances.

The investors who have put in EoI (expression of interest) have already submitted required information to secure the clearances and those details would be forwarded to the RBI and respective government agencies.

The transaction is expected to get over in the second half of next fiscal year beginning April 2023.

Pursuant to the transaction, the government will own a 15 per cent stake and LIC 19 per cent in IDBI Bank, taking their total holding to 34 per cent.

The government had last year asked Sebi to treat its residual stake in IDBI Bank as a financial investment since it would not exercise any control over the bank and will have no board seat.

Reclassification of the government’s remaining 15 per cent stake in IDBI Bank as ‘public’ will make it easier for the buyer of IDBI Bank to meet the mandatory 25 per cent minimum public shareholding norm. Currently, public shareholding in IDBI Bank is 5.28 per cent.

Earlier, DIPAM had said the potential buyers should have a minimum net worth of Rs 22,500 crore and must have reported a net profit in three out of the last five years to qualify to bid for the bank.

In addition, a maximum of four members would be permitted in a consortium. Also, the successful bidder would be required to mandatorily lock in at least 40 per cent of the equity capital for five years from the date of acquisition.

Shares of IDBI Bank were trading at Rs 55.70 apiece, down 0.45 per cent from the previous close on BSE.

(With inputs from PTI)

0Like
0Dislike
50% LikesVS
50% Dislikes
Source: Economic Times
Tags: bfsiIDBI BankLICrbi
Previous Post

RBI says 10 NBFCs surrender registration certificates

Next Post

Cabinet approves promotional incentives worth Rs 2,600 crore for Rupay debit cards, low value UPI transactions

Related Posts

FIDC announces Raman Aggarwal as its new CEO
BFSI

FIDC announces Raman Aggarwal as its new CEO

28/05/2025
Dhansafal signs co-lending deal with Vastu Finserve to bridge credit gaps
BFSI

Dhansafal signs co-lending deal with Vastu Finserve to bridge credit gaps

28/05/2025
Digital resilience in focus as BharatCoop 2025 gathers industry pioneers
BFSI

Digital resilience in focus as BharatCoop 2025 gathers industry pioneers

27/05/2025
Next Post
India records over 23 billion digital payments worth Rs 38.3 lakh crore in Q3

Cabinet approves promotional incentives worth Rs 2,600 crore for Rupay debit cards, low value UPI transactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Subscribe to our Newsletter
johnsmith@example.com

Recent News

FIDC announces Raman Aggarwal as its new CEO

FIDC announces Raman Aggarwal as its new CEO

28/05/2025
Dhansafal signs co-lending deal with Vastu Finserve to bridge credit gaps

Dhansafal signs co-lending deal with Vastu Finserve to bridge credit gaps

28/05/2025
Digital resilience in focus as BharatCoop 2025 gathers industry pioneers

Digital resilience in focus as BharatCoop 2025 gathers industry pioneers

27/05/2025
IIFL Finance gets RBI nod to open Branches in Jammu & Kashmir

IIFL Finance gets RBI nod to open Branches in Jammu & Kashmir

27/05/2025
B2B Market Media

B2B Market Media emerges as your trusted partner for forging connections and fueling breakthroughs. Our mission is simple: to bridge the gap among industry leaders, innovators and decision-makers across sectors like Banks, Education, Urban Cooperative Banks, NBFCs & MFIs, and Insurance Companies.

Quick Links

  • Home
  • About Us
  • Contact Us
  • Privacy Policy
  • Refund Policy
  • Terms and Conditions

All News

  • BFSI
  • Edtech
  • Education
  • Enterprise
  • Financial Inclusion
  • Fintech
  • Health
  • Interviews
  • Pharma
  • Startup
  • Technology
  • Uncategorized

Follow Linkedin Newsletter to receive latest news & events updates. Let’s stay updated!

Subscribe on LinkedIn
  • About Us
  • Contact Us

© 2023 b2bmarketmedia

No Result
View All Result
  • Home
  • About Us
  • Upcoming Events
  • Fintech
  • BFSI
  • Education
  • Technology
  • Startup
  • Enterprise
  • Pharma
  • Contact Us
  • Login
  • Sign Up

© 2023 b2bmarketmedia

Welcome Back!

OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In