India's IDBI Bank slides on discounted block deals; NSE IPO-linked stocks fall

IFCI

08/09/2026 10:50

** Shares of IDBI Bank IBDI.NS fall as much as 12.89% to 79.05 rupees, steepest intraday fall in 6 months; last down 10.5% 
** About 2.03 million shares of IDBI change hands in three blocks at discounts of 7.6%-11.9%, per data compiled by LSEG
** Drop comes amid profit booking in NSE IPO-linked stocks
** IFCI IFCI.NS and New India Assurance THEE.NS drop 9.1% and 9.9%, respectively, on Tues
** IFCI and THEE had surged 6.9% and 18.4% in last two sessions
** IFCI, THEE shares sensitive to NSE IPO developments as IFCI holds 52% stake in Stock Holding Corporation of India, which owns 4.4% stake in NSE
** THEE holds 1.42% stake in NSE
** IDBI, one of the public sector shareholders participating in offer for sale in NSE's IPO, plans to sell its entire stake of 7.415 million shares    
** While formal price band for NSE IPO has not been announced yet, Reuters reports Indian mutual funds indicated comfort buying NSE at around 1,800 rupees
** Meanwhile, GMP for NSE IPO drops to 223 rupees per share from 285 rupees, according to financial research platform Investor Gain


 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))