India's IDBI Bank rises as sale effort approaches late stage with Emirates NBD, Fairfax in the lead

IDBI Bank

08/09/2025 08:17

** Shares of IDBI Bank IDBI.NS rise 4.7% to 93 rupees

** Dubai's Emirates NBD, Canadian billionaire Prem Watsa's Fairfax India Holdings, Kotak Mahindra Bank KTKM.NS and Oaktree Capital Management are expected to participate in the financial bidding process, MoneyControl reports

** "Emirates and Fairfax could be neck-to-neck in terms of the bidding process, and both seem equally interested and keen on IDBI Bank," a banker told MoneyControl adding that KTKM is not far behind

** Companies did not immediately respond to Reuters' request for comment

** Last month, India completed due diligence for the stake sale and plans to invite financial bids between October and December

** Indian government and LIC, which hold 45.48% and 49.24% stakes in the lender, respectively, plan to jointly sell 60.7% stake; sale first announced in 2022

** More than 12.4 shares traded, 17x more than 30-day avg

** Stock up about 22% YTD

 (Reporting by Urvi Dugar)

 ((UrviManoj.Dugar@thomsonreuters.com))