India's IDBI Bank gains after report India govt to soon invite bids for stake sale

IDBI Bank

28/10/2025 07:23

** Shares of IDBI Bank IDBI.NS rise 7.3% to 102.72 rupees

** India government to soon invite financial bids for IDBI Bank stake sale, Moneycontrol reports citing government officials

** Report adds, officials of Department of Investment and Public Asset Management and Department of Financial Services are expected to meet on October 31 to finalise and approve the bidding process

** India govt and Life Insurance Corp LIFI.NS together hold about 94.71% stake in IDBI and plan to sell 60.72% to a strategic investor, Moneycontrol report says

** Trading vols at 43.9 mln shares so far, 6.7x the 30-day average

** IDBI up ~34% YTD

 (Reporting by Vijay Malkar)

 ((VijayDattaram.Malkar@thomsonreuters.com;))