Clarification on the Process of Strategic Restructuring of IDBI

The Ministry of Finance issued a clarification regarding the strategic restructuring and disinvestment process of IDBI Bank. It details the framework followed by the Department of Investment and Public Asset Management (DIPAM), the role of the Core Group of Secretaries on Disinvestment (CGD) empowered by the Cabinet Committee of Economic Affairs (CCEA), and the valuation methodologies employed. The release addresses the bidding rounds, the use of independent valuation agencies, market multiple methods utilizing listed public sector banks as comparators, and the handling of the reserve price and financial bids.