India's IDBI Bank rises on report government seeks fresh bids for stake sale

IDBI Bank

02/07/2026 10:03

** Shares of IDBI Bank IDBI.NS rise as much as 5% to 86.35 rupees; last up 2.3%     
** India government has invited fresh bids from existing shortlisted bidders for the strategic sale of the lender, NDTV Profit reports, citing sources
** Government plans to conclude the stake sale in the current financial year, realise around 500 billion to 550 billion rupees ($5.25 billion-$5.77 billion) from the transaction, report says 
** Earlier this year, India shelved bids it received for majority stake sale ​in IDBI Bank as offers were ‌below the government's minimum price expectation 
   ** IDBI Bank and India's Department of Investment and Public Asset Management did not immediately respond to a Reuters request for comment     
   ** IDBI Bank is down 18.5% in 2026, compared to a ~3% drop in Nifty Bank Index .NSEBANK 

($1 = 95.2650 Indian rupees)

 (Reporting by Nishit Navin in Bengaluru)
 ((nishit.navin@thomsonreuters.com))