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IDBI Bank clarified the news on the government's CABET-approved stake sale to Fairfax. It stated DIPAM leads the competitive disinvestment and the Bank has no role in it.
IDBI Bank clarified in response to a BSE query that the proposed disinvestment is a confidential government process and it is unaware of any market-moving rumors.
IDBI Bank clarified that there is no undisclosed price-sensitive information explaining the recent spurt in share trading volume. The strategic disinvestment process is managed by DIPAM.
IDBI Bank clarified it cannot confirm or deny reports regarding a Fairfax Financial offer. The bank stated the strategic disinvestment process remains confidential under Government oversight.
IDBI Bank clarified that the proposed strategic disinvestment by the Government of India is a confidential process. The bank stated it is not in a position to confirm or deny recent news reports. It highlighted that the disinvestment is managed by the GOI through a competitive bidding process where the bank has no role in negotiations.