IDBI Bank shares saw a jump of more than 8% on August 21. On this day, the company’s shares closed at Rs 97.61 against the previous shutdown of Rs 90.13. So far this year, the bank shares have gained a total of 27%, which is much higher than the Nifty 50. The Nifty 50 has gained just 5.5% during this period. This great boom in the shares has been seen after the government and LIC’s move to sell stake.
Let us know that the government and LIC together are preparing to sell about 61% of their total 95% stake in IDBI Bank. This step is part of the government’s scheme, under which it wants to raise money by reducing its stake in some government companies. Some companies have shown interest in the sale of this stake and they are now investigating the complete information of the bank.
Preparation is in the last phase, the deal may be complete soon
DIPAM Secretary Arunish Chawla said that all the necessary documents about IDBI Bank have been given to the companies and they are now in the final stages of investigation. After this, the next phase will come, in which the investment process will move forward. The government hopes that this entire process will be completed before this financial year i.e. March 2026. The government is going on a target of raising a total of Rs 47,000 crore this year and so far about Rs 20,000 crore has been deposited from it.
The news of the sale of large stake in IDBI Bank hopes that the future of the bank may be better. The participation of private companies is likely to increase the services and profits of the bank. This is the reason that its impact showed in the market and the bank shares have increased.