IDBI divestment to be completed this fiscal, LIC OFS on course: Dipam secy

The much-delayed IDBI Bank divestment will be completed by the end of the current financial year, Dipam secretary Arunish Chawla has said.

- BENN KOCHUVEEDAN @ Mumbai

The due diligence process by the bidders will be completed by next month, following which the request for proposals will be called in. The development sent shares of the bank up 8% intraday. Chawla expressed confidence that this year, the department will be able to cross the ₹47,000 crore target that was set in the budget, as the department has already collected ₹22,000 crore in first quarter itself, most of which came not from actual stake sale but through listing Invits. The only real stake dilution took place so far th