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IDBI Bank privatization deal, announced in 2021, reached fruition on 14th October 2026, with government and LIC to reduce stakes and an open offer to minority shareholders to follow
By ScoutQuest · · 1 min read
- Government post-deal stake
- 15 percent
- LIC residual stake currently
- 19 percent
- LIC stake to be sold
- 4 percent
- Minority shareholders eligible for open offer
- 5.3 percent
- Open offer minimum size
- 6 percent
Heard on business television between 14:34:36 - 14:37:36 IST.
- A government official described the IDBI Bank privatization as the most complex share purchase agreement the Ministry has designed, taking about one year of intensive work with no prior template since no bank privatization had been done before.
- The strategic transaction, announced in 2021, was completed on 14th October 2026, with decisions made collectively by an empowered committee.
- Post-deal, the Government of India will become a public shareholder holding not more than 15% equity, with no board seat and no role in day-to-day management or future capitalization.
- LIC will be required to bring its stake down to 15% over two years from a residual 19%, selling an additional 4% stake in the open market, which will benefit small shareholders and improve share float and price stability.
- The deal will trigger an open offer of at least 6% to minority shareholders (5.3% of stock) by the strategic buyer, which is voluntary; the government cannot participate in the open offer as per regulations, and public float will be enhanced gradually as per market conditions.
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Source: Live TV News Channel · 15 Oct 2026
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