Centre set to cross Rs 80000 cr disinvestment target for first time since FY19 after IDBI Bank stake sale
The Indian government is expected to surpass its budgeted disinvestment target of Rs 80,000 crore for FY27. A significant contributor will be the strategic sale of IDBI Bank, which is valued at over Rs 52,878 crore. This sale includes the government's 30.48% stake alongside LIC's 30.24% stake in the bank. The total proceeds from various minority stake sales have already reached Rs 55,757 crore.
We haven't written up this one. The Economic Times - Economy has the full story — the link below goes straight to it.
Also reported by 4 other outlets
- Fairfax buys IDBI for US$5.6 billion in India’s biggest bank deal financialpost.com
- IDBI Bank strategic restructuring to attract FDI, boost banking sector, says FM Sitharaman economictimes.indiatimes.com
- Fairfax to Buy IDBI for $5.6 Billion in Biggest India Bank Deal insurancejournal.com
- Fairfax Financial Buying Majority Stake in India’s IDBI Bank wsj.com
