IDBI Bank
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** Shares of India's IDBI Bank IDBI.NS rise as much as 3.9% to 89.94 rupees; last up 1.3%
** IDBI set for fifth straight day of gains, if trend holds
** Canada's Fairfax Financial FFH.TO set to acquire Indian govt's stake in IDBI Bank for $5.5 bln, reported Economic Times on Wednesday
** Stake sale in co was revived on Tuesday after Dubai's Emirates NBD ENBD.DU and Fairfax revised their bids
** More than 30.5 mln shares change hands by 11:20 a.m. vs 30-day avg of 24.7 mln shares
** YTD, IDBI down 15%
(Reporting by Abhirami G in Bengaluru)
** Shares of India's IDBI Bank IDBI.NS rise as much as 3.9% to 89.94 rupees; last up 1.3%
** IDBI set for fifth straight day of gains, if trend holds
** Canada's Fairfax Financial FFH.TO set to acquire Indian govt's stake in IDBI Bank for $5.5 bln, reported Economic Times on Wednesday
** Stake sale in co was revived on Tuesday after Dubai's Emirates NBD ENBD.DU and Fairfax revised their bids
** More than 30.5 mln shares change hands by 11:20 a.m. vs 30-day avg of 24.7 mln shares
** YTD, IDBI down 15%
(Reporting by Abhirami G in Bengaluru)
July 14 (Reuters) - IDBI Bank Ltd IDBI.NS:
IDBI BANK: CLARIFIES ON REPORT "GOVERNMENT CLOSE TO ACCEPTING SWEETENED FAIRFAX FINANCIAL OFFER FOR IDBI BANK"
IDBI BANK - UNABLE TO CONFIRM OR DENY NEWS ON FAIRFAX FINANCIAL OFFER
IDBI BANK - HAS NOT RECEIVED ANY COMMUNICATION FROM GOVT ABOUT FINALISATION OF ON ONFOING DISINVESTMENT PROCESS
Source text: ID:nBSE2RPJTq
Further company coverage: IDBI.NS
(([email protected];;))
July 14 (Reuters) - IDBI Bank Ltd IDBI.NS:
IDBI BANK: CLARIFIES ON REPORT "GOVERNMENT CLOSE TO ACCEPTING SWEETENED FAIRFAX FINANCIAL OFFER FOR IDBI BANK"
IDBI BANK - UNABLE TO CONFIRM OR DENY NEWS ON FAIRFAX FINANCIAL OFFER
IDBI BANK - HAS NOT RECEIVED ANY COMMUNICATION FROM GOVT ABOUT FINALISATION OF ON ONFOING DISINVESTMENT PROCESS
Source text: ID:nBSE2RPJTq
Further company coverage: IDBI.NS
(([email protected];;))
** Shares of IDBI Bank IDBI.NS rise as much as 5% to 86.35 rupees; last up 2.3%
** India government has invited fresh bids from existing shortlisted bidders for the strategic sale of the lender, NDTV Profit reports, citing sources
** Government plans to conclude the stake sale in the current financial year, realise around 500 billion to 550 billion rupees ($5.25 billion-$5.77 billion) from the transaction, report says
** Earlier this year, India shelved bids it received for majority stake sale in IDBI Bank as offers were below the government's minimum price expectation
** IDBI Bank and India's Department of Investment and Public Asset Management did not immediately respond to a Reuters request for comment
** IDBI Bank is down 18.5% in 2026, compared to a ~3% drop in Nifty Bank Index .NSEBANK
($1 = 95.2650 Indian rupees)
(Reporting by Nishit Navin in Bengaluru)
** Shares of IDBI Bank IDBI.NS rise as much as 5% to 86.35 rupees; last up 2.3%
** India government has invited fresh bids from existing shortlisted bidders for the strategic sale of the lender, NDTV Profit reports, citing sources
** Government plans to conclude the stake sale in the current financial year, realise around 500 billion to 550 billion rupees ($5.25 billion-$5.77 billion) from the transaction, report says
** Earlier this year, India shelved bids it received for majority stake sale in IDBI Bank as offers were below the government's minimum price expectation
** IDBI Bank and India's Department of Investment and Public Asset Management did not immediately respond to a Reuters request for comment
** IDBI Bank is down 18.5% in 2026, compared to a ~3% drop in Nifty Bank Index .NSEBANK
($1 = 95.2650 Indian rupees)
(Reporting by Nishit Navin in Bengaluru)
By Dharamraj Dhutia and Gopika Gopakumar
MUMBAI, June 23 (Reuters) - Fairfax FFH.TO bought Indian government debt worth nearly $1 billion last Friday, according to five sources, in a rare purchase through the local unit of the Canadian investment holding company.
The purchases by Fairfax India Holding Corp FIHu.TO were made to bring capital into the country ahead of a potential deal to buy stake in government-owned IDBI Bank IDBI.NS, one of the sources, who is close to Fairfax, said.
India's recent decision to exempt foreign investors in government bonds from capital gains tax made the transaction viable, according to this source.
Fairfax was among the bidders for a stake in government-owned lender IDBI Bank. The process had been stalled since March this year as potential buyers submitted bids below the reserve price, or the minimum price the government would accept.
Talks over reviving the stake sale have since continued, the source quoted above said, adding there is no certainty of a deal.
All five sources requested anonymity as they are not authorised to speak to media. Fairfax India Holding did not reply to a Reuters query seeking comment. India's Department of Investment and Public Asset Management (DIPAM) did not respond to Reuters' queries.
The Indian government and state-owned Life Insurance Corporation of India LIFI.NS, had together planned on selling 60.7% of the lender as part of a broader government privatisation programme. The government owns 45.48% of IDBI Bank, while LIC holds 49.24%.
BUYING CONCENTRATED AT THE SHORT END
Fairfax bought around 60 billion rupees ($633.7 million) of the 6.03% 2029 bond, which was sold at an auction last Friday, at a yield that was 5 basis points lower than market levels, four of the sources, all treasury officials, said.
The company also likely bought around 6 billion rupees of the 6.79% 2027 bond and 26 billion rupees of treasury bills maturing in May and June 2027, the treasury officials added.
Fairfax is not a regular participant in the Indian bond markets, the officials said. According to financial disclosures, Fairfax India reported holding government securities with fair value of $42.6 million at the end of December 2025.
($1 = 94.6775 Indian rupees)
(Reporting by Dharamraj Dhutia and Gopika Gopakumar in Mumbai; Editing by Ronojoy Mazumdar)
(([email protected];))
By Dharamraj Dhutia and Gopika Gopakumar
MUMBAI, June 23 (Reuters) - Fairfax FFH.TO bought Indian government debt worth nearly $1 billion last Friday, according to five sources, in a rare purchase through the local unit of the Canadian investment holding company.
The purchases by Fairfax India Holding Corp FIHu.TO were made to bring capital into the country ahead of a potential deal to buy stake in government-owned IDBI Bank IDBI.NS, one of the sources, who is close to Fairfax, said.
India's recent decision to exempt foreign investors in government bonds from capital gains tax made the transaction viable, according to this source.
Fairfax was among the bidders for a stake in government-owned lender IDBI Bank. The process had been stalled since March this year as potential buyers submitted bids below the reserve price, or the minimum price the government would accept.
Talks over reviving the stake sale have since continued, the source quoted above said, adding there is no certainty of a deal.
All five sources requested anonymity as they are not authorised to speak to media. Fairfax India Holding did not reply to a Reuters query seeking comment. India's Department of Investment and Public Asset Management (DIPAM) did not respond to Reuters' queries.
The Indian government and state-owned Life Insurance Corporation of India LIFI.NS, had together planned on selling 60.7% of the lender as part of a broader government privatisation programme. The government owns 45.48% of IDBI Bank, while LIC holds 49.24%.
BUYING CONCENTRATED AT THE SHORT END
Fairfax bought around 60 billion rupees ($633.7 million) of the 6.03% 2029 bond, which was sold at an auction last Friday, at a yield that was 5 basis points lower than market levels, four of the sources, all treasury officials, said.
The company also likely bought around 6 billion rupees of the 6.79% 2027 bond and 26 billion rupees of treasury bills maturing in May and June 2027, the treasury officials added.
Fairfax is not a regular participant in the Indian bond markets, the officials said. According to financial disclosures, Fairfax India reported holding government securities with fair value of $42.6 million at the end of December 2025.
($1 = 94.6775 Indian rupees)
(Reporting by Dharamraj Dhutia and Gopika Gopakumar in Mumbai; Editing by Ronojoy Mazumdar)
(([email protected];))
Listing will see existing shareholders offering to sell about 6% of equity
Estimated $3.3 billion IPO to value India's biggest bourse at $57 billion
State Bank of India to make $498 million, Temasek to make $219 million
Adds Temasek declined to comment in paragraph 15
By Jayshree P Upadhyay
MUMBAI, June 18 (Reuters) - Investors from Indian state-owned lenders to Singapore's sovereign wealth fund and Canada's national pension manager are set to reap a $2.6 billion windfall as India's National Stock Exchange (NSE) moves ahead with a long-awaited listing.
NSE — the country's largest bourse and the world's most active derivatives exchange — filed draft papers for an initial public offering late on Wednesday, following years of regulatory delays.
The listing will be a pure offer-for-sale, with existing shareholders offering to sell about 6% of the exchange's equity and no fresh equity raised.
NSE has more than 200,000 investors currently, and its shares trade at close to 2,000 rupees ($21.18) in the unlisted market, according to trading platforms. That suggests a valuation of some $57 billion, setting the bourse up to become the world's fifth most valuable after London Stock Exchange Group.
The exchange may offer shares at a 5% to 10% discount to private market valuations, said three sources, including merchant bankers. The valuation under discussion is around 1,900 rupees per share, they added, declining to be identified as they are not authorised to speak to the media.
"At this valuation NSE would attract incoming investors while not short-changing existing ones," one source said.
A final decision on pricing will be taken closer to listing, following investor roadshows.
At 1,900 rupees per share, the IPO would be worth $3.3 billion, making it one of India's two largest public offerings alongside Mukesh Ambani’s Reliance Jio, which is likely to list this year in an IPO worth some $4 billion.
NSE said it could not comment beyond that it has filed an IPO prospectus when asked by Reuters about the valuation.
WINDFALL GAINS
The top 10 investors offering shares are set for a windfall worth some $2.6 billion, based on acquisition prices disclosed in the draft prospectus.
State Bank of India, the country’s largest lender, will lock in gains of about 47 billion rupees ($497.67 million), while MS Strategic (Mauritius), a Morgan Stanley fund, will make about 29.34 billion rupees, according to Reuters calculations based on prospectus disclosures and valuation estimates.
Singapore's Temasek stands to make 20.67 billion rupees via its Aranda Investment arm, and Canada Pension Plan Investment Board will gain 18.71 billion rupees.
State Bank of India and Morgan Stanley did not immediately respond to emails seeking comment. CPPIB and Temasek declined to comment.
Anubhav Dayal, founder of Hong Kong-headquartered Soach Global Corporation, said its flagship fund first bought into NSE in early 2016 and is now selling 20% of its holding to provide liquidity to investors.
"It has proven to be a great investment. We saw the potential in NSE to serve India's masses," Dayal said, adding that the firm continues to hold NSE as a key investment. "NSE will continue to play an important role in India's economic activity."
GROWTH PROSPECTS AND REGULATORY RISKS
The exchange is likely to begin IPO roadshows over the next two months, the sources said, adding that both domestic mutual funds and global funds have shown early interest in anchoring the issue.
The exchange’s revenue has more than doubled between April 2019 and April 2026 to about 187 billion rupees, driven by strong growth in options trading. However, growth has slowed over the past year after a series of regulatory curbs on derivatives.
The exchange, detailing regulatory risks in its filing, said revenue could continue to be impacted by government and regulatory measures aimed at tempering derivatives activity.
In its IPO papers, NSE said growth will hinge on continued expansion in first-time investors, rising trading activity, innovation in derivatives products and a push into commodities.
Ravi Varanasi, a former group president at NSE who now runs a consultancy advising Indian exchanges, said NSE's near-total grip on the cash market gives it a strong long-term growth opportunity.
"As India’s market capitalisation deepens, cash trading volumes are expected to rise steadily," he said.
($1 = 94.5250 Indian rupees)
(Reporting by Jayshree P Upadhyay; Additional reporting by Bharath Rajeswaran in Bengaluru; Editing by Ira Dugal and Kevin Buckland)
(([email protected]; 9920092491; Reuters Messaging: Twitter: @jaysh88))
Listing will see existing shareholders offering to sell about 6% of equity
Estimated $3.3 billion IPO to value India's biggest bourse at $57 billion
State Bank of India to make $498 million, Temasek to make $219 million
Adds Temasek declined to comment in paragraph 15
By Jayshree P Upadhyay
MUMBAI, June 18 (Reuters) - Investors from Indian state-owned lenders to Singapore's sovereign wealth fund and Canada's national pension manager are set to reap a $2.6 billion windfall as India's National Stock Exchange (NSE) moves ahead with a long-awaited listing.
NSE — the country's largest bourse and the world's most active derivatives exchange — filed draft papers for an initial public offering late on Wednesday, following years of regulatory delays.
The listing will be a pure offer-for-sale, with existing shareholders offering to sell about 6% of the exchange's equity and no fresh equity raised.
NSE has more than 200,000 investors currently, and its shares trade at close to 2,000 rupees ($21.18) in the unlisted market, according to trading platforms. That suggests a valuation of some $57 billion, setting the bourse up to become the world's fifth most valuable after London Stock Exchange Group.
The exchange may offer shares at a 5% to 10% discount to private market valuations, said three sources, including merchant bankers. The valuation under discussion is around 1,900 rupees per share, they added, declining to be identified as they are not authorised to speak to the media.
"At this valuation NSE would attract incoming investors while not short-changing existing ones," one source said.
A final decision on pricing will be taken closer to listing, following investor roadshows.
At 1,900 rupees per share, the IPO would be worth $3.3 billion, making it one of India's two largest public offerings alongside Mukesh Ambani’s Reliance Jio, which is likely to list this year in an IPO worth some $4 billion.
NSE said it could not comment beyond that it has filed an IPO prospectus when asked by Reuters about the valuation.
WINDFALL GAINS
The top 10 investors offering shares are set for a windfall worth some $2.6 billion, based on acquisition prices disclosed in the draft prospectus.
State Bank of India, the country’s largest lender, will lock in gains of about 47 billion rupees ($497.67 million), while MS Strategic (Mauritius), a Morgan Stanley fund, will make about 29.34 billion rupees, according to Reuters calculations based on prospectus disclosures and valuation estimates.
Singapore's Temasek stands to make 20.67 billion rupees via its Aranda Investment arm, and Canada Pension Plan Investment Board will gain 18.71 billion rupees.
State Bank of India and Morgan Stanley did not immediately respond to emails seeking comment. CPPIB and Temasek declined to comment.
Anubhav Dayal, founder of Hong Kong-headquartered Soach Global Corporation, said its flagship fund first bought into NSE in early 2016 and is now selling 20% of its holding to provide liquidity to investors.
"It has proven to be a great investment. We saw the potential in NSE to serve India's masses," Dayal said, adding that the firm continues to hold NSE as a key investment. "NSE will continue to play an important role in India's economic activity."
GROWTH PROSPECTS AND REGULATORY RISKS
The exchange is likely to begin IPO roadshows over the next two months, the sources said, adding that both domestic mutual funds and global funds have shown early interest in anchoring the issue.
The exchange’s revenue has more than doubled between April 2019 and April 2026 to about 187 billion rupees, driven by strong growth in options trading. However, growth has slowed over the past year after a series of regulatory curbs on derivatives.
The exchange, detailing regulatory risks in its filing, said revenue could continue to be impacted by government and regulatory measures aimed at tempering derivatives activity.
In its IPO papers, NSE said growth will hinge on continued expansion in first-time investors, rising trading activity, innovation in derivatives products and a push into commodities.
Ravi Varanasi, a former group president at NSE who now runs a consultancy advising Indian exchanges, said NSE's near-total grip on the cash market gives it a strong long-term growth opportunity.
"As India’s market capitalisation deepens, cash trading volumes are expected to rise steadily," he said.
($1 = 94.5250 Indian rupees)
(Reporting by Jayshree P Upadhyay; Additional reporting by Bharath Rajeswaran in Bengaluru; Editing by Ira Dugal and Kevin Buckland)
(([email protected]; 9920092491; Reuters Messaging: Twitter: @jaysh88))
May 20 (Reuters) - IDBI Bank Ltd IDBI.NS:
IDBI BANK - APPROVED RE-APPOINTMENT OF JAYAKUMAR S. PILLAI AS DEPUTY MD ON BOARD FOR 1 YEAR WITH EFFECT FROM JUNE 12
Source text: ID:nBSE6nDZcB
Further company coverage: IDBI.NS
(([email protected];;))
May 20 (Reuters) - IDBI Bank Ltd IDBI.NS:
IDBI BANK - APPROVED RE-APPOINTMENT OF JAYAKUMAR S. PILLAI AS DEPUTY MD ON BOARD FOR 1 YEAR WITH EFFECT FROM JUNE 12
Source text: ID:nBSE6nDZcB
Further company coverage: IDBI.NS
(([email protected];;))
April 30 (Reuters) - IDBI Bank Ltd IDBI.NS:
IDBI BANK Q4 NET PROFIT 19.43 BILLION RUPEES
IDBI BANK Q4 INTEREST EARNED 77.98 BILLION RUPEES
IDBI BANK Q4 PROVISIONS AND CONTINGENCIES 2.85 BILLION RUPEES
IDBI BANK Q4 GROSS NPA 2.32%
Further company coverage: IDBI.NS
(([email protected];))
April 30 (Reuters) - IDBI Bank Ltd IDBI.NS:
IDBI BANK Q4 NET PROFIT 19.43 BILLION RUPEES
IDBI BANK Q4 INTEREST EARNED 77.98 BILLION RUPEES
IDBI BANK Q4 PROVISIONS AND CONTINGENCIES 2.85 BILLION RUPEES
IDBI BANK Q4 GROSS NPA 2.32%
Further company coverage: IDBI.NS
(([email protected];))
** Shares of IDBI Bank IDBI.NS fall about 7% to 67.95 rupees, lowest level since March 4, 2025
** Government may consider stake sale via offer-for-sale to increase public shareholding in IDBI Bank after attempt to divest stake fell through earlier this month - PTI report, quoting sources
** IDBI, government officials did not immediately respond to a Reuters request for comment
** YTD, IDBI down about 34%
(Reporting by Abhirami G in Bengaluru)
** Shares of IDBI Bank IDBI.NS fall about 7% to 67.95 rupees, lowest level since March 4, 2025
** Government may consider stake sale via offer-for-sale to increase public shareholding in IDBI Bank after attempt to divest stake fell through earlier this month - PTI report, quoting sources
** IDBI, government officials did not immediately respond to a Reuters request for comment
** YTD, IDBI down about 34%
(Reporting by Abhirami G in Bengaluru)
March 20 (Reuters) - IDBI Bank Ltd IDBI.NS:
PENALTY OF 55 MILLION RUPEES IMPOSED ON IDBI BANK
Source text: ID:nBSEbMSLlS
Further company coverage: IDBI.NS
(([email protected];))
March 20 (Reuters) - IDBI Bank Ltd IDBI.NS:
PENALTY OF 55 MILLION RUPEES IMPOSED ON IDBI BANK
Source text: ID:nBSEbMSLlS
Further company coverage: IDBI.NS
(([email protected];))
** Shares of IDBI Bank IDBI.NS, Shipping Corp of India SCI.NS and Container Corp of India CCRI.NS pare gains to close 1.2% to 1.5% higher
** The pullback follows a Reuters report that India is considering shelving planned privatisation sales due to weak investor appetite, citing two government sources
** Container Corp, which was up 1.8% ahead of the report, trimmed gains to 0.7% before closing 1.4% higher
** Shipping Corp and IDBI Bank, which were up 1.8% and 2%, settled 1.5% and 1.1% higher, respectively
(Reporting by Nishit Navin in Bengaluru)
** Shares of IDBI Bank IDBI.NS, Shipping Corp of India SCI.NS and Container Corp of India CCRI.NS pare gains to close 1.2% to 1.5% higher
** The pullback follows a Reuters report that India is considering shelving planned privatisation sales due to weak investor appetite, citing two government sources
** Container Corp, which was up 1.8% ahead of the report, trimmed gains to 0.7% before closing 1.4% higher
** Shipping Corp and IDBI Bank, which were up 1.8% and 2%, settled 1.5% and 1.1% higher, respectively
(Reporting by Nishit Navin in Bengaluru)
Adds IDBI's response from exchange filing
By Urvi Dugar and Mridula Kumar
BENGALURU, Mar 16 (Reuters) - Shares of IDBI Bank IDBI.NS slumped as much as 16.5% on Monday after reports that the Indian government would shelve bids for a majority stake in the lender, as the offers were below the minimum price expectation.
The shares were trading 15.2% lower at 78.20 rupees as of 12:57 a.m. IST, set for their biggest single-day drop since June 2024.
The government has been trying to sell a stake in IDBI Bank for the last four years as part of a broader push to privatise state-run firms. The planned sale included a 30.48% stake held by the government and a 30.24% stake by state-run insurer Life Insurance Corp LIFI.NS, which had rescued IDBI in 2018 after it was weighed down by bad loans.
The government had planned to complete the sale by the end of this month.
IDBI said in an exchange filing that it had received no government communication on the disinvestment process, which it said was being handled by the Department of Investment and Public Asset Management and did not involve the bank.
The tepid interest for IDBI Bank contrasts with strong foreign investor appetite for Indian lenders, underscored by Emirates NBD's ENBD.DU buying a 60% stake in RBL Bank RATB.NS for $3 billion and Sumitomo Mitsui Banking Corp 8316.T acquiring a 24% stake in Yes Bank YESB.NS.
IDBI's stake sale had attracted bids from the Canadian investment group Fairfax Financial FFH.TO and Emirates NBD, Reuters reported in February.
A source told Reuters on Friday that the government may initiate a fresh process for IDBI Bank when market appetite improves.
The run-up in IDBI's stock ahead of the expected deal has now reversed since the transaction has fallen through, said Vinit Bolinjkar, head of research at Ventura Securities, though he has no concerns about the bank's fundamentals.
Until Friday's close, the shares had gained 116% since October 2022, when the divestment process was first announced. The state-run bank index .NIFTYPSU rose 182% over the same period.
The finance ministry did not immediately respond to Reuters' requests for comment on Monday.
($1 = 92.4525 Indian rupees)
(Reporting by Urvi Dugar and Mridula Kumar in Bengaluru; Editing by Mrigank Dhaniwala)
(([email protected]; +91 9558725583;))
Adds IDBI's response from exchange filing
By Urvi Dugar and Mridula Kumar
BENGALURU, Mar 16 (Reuters) - Shares of IDBI Bank IDBI.NS slumped as much as 16.5% on Monday after reports that the Indian government would shelve bids for a majority stake in the lender, as the offers were below the minimum price expectation.
The shares were trading 15.2% lower at 78.20 rupees as of 12:57 a.m. IST, set for their biggest single-day drop since June 2024.
The government has been trying to sell a stake in IDBI Bank for the last four years as part of a broader push to privatise state-run firms. The planned sale included a 30.48% stake held by the government and a 30.24% stake by state-run insurer Life Insurance Corp LIFI.NS, which had rescued IDBI in 2018 after it was weighed down by bad loans.
The government had planned to complete the sale by the end of this month.
IDBI said in an exchange filing that it had received no government communication on the disinvestment process, which it said was being handled by the Department of Investment and Public Asset Management and did not involve the bank.
The tepid interest for IDBI Bank contrasts with strong foreign investor appetite for Indian lenders, underscored by Emirates NBD's ENBD.DU buying a 60% stake in RBL Bank RATB.NS for $3 billion and Sumitomo Mitsui Banking Corp 8316.T acquiring a 24% stake in Yes Bank YESB.NS.
IDBI's stake sale had attracted bids from the Canadian investment group Fairfax Financial FFH.TO and Emirates NBD, Reuters reported in February.
A source told Reuters on Friday that the government may initiate a fresh process for IDBI Bank when market appetite improves.
The run-up in IDBI's stock ahead of the expected deal has now reversed since the transaction has fallen through, said Vinit Bolinjkar, head of research at Ventura Securities, though he has no concerns about the bank's fundamentals.
Until Friday's close, the shares had gained 116% since October 2022, when the divestment process was first announced. The state-run bank index .NIFTYPSU rose 182% over the same period.
The finance ministry did not immediately respond to Reuters' requests for comment on Monday.
($1 = 92.4525 Indian rupees)
(Reporting by Urvi Dugar and Mridula Kumar in Bengaluru; Editing by Mrigank Dhaniwala)
(([email protected]; +91 9558725583;))
March 13 (Reuters) - India is set to shelve the bids it received for a majority stake in IDBI Bank IDBI.NS, as the amounts were below the minimum price sought, Bloomberg News reported on Friday, citing people with knowledge of the matter.
Reuters could not immediately verify the report.
(Reporting by Anna Peverieri in Barcelona; Editing by Louise Heavens)
(([email protected];))
March 13 (Reuters) - India is set to shelve the bids it received for a majority stake in IDBI Bank IDBI.NS, as the amounts were below the minimum price sought, Bloomberg News reported on Friday, citing people with knowledge of the matter.
Reuters could not immediately verify the report.
(Reporting by Anna Peverieri in Barcelona; Editing by Louise Heavens)
(([email protected];))
The author is a Reuters Breakingviews columnist. The opinions expressed are her own.
By Shritama Bose
MUMBAI, March 9 (Reuters Breakingviews) - A dealmaking boom in India's banking sector has an unlikely loser: the government. Canadian insurance holding firm Fairfax Financial FFH.TO leads the race to buy a 61% stake from Indian state entities in $13 billion IDBI Bank IDBI.NS, Bloomberg reported in February, citing sources. An $8 billion transaction would be the largest-ever foreign direct investment in a local bank. But crystallising a premium valuation looks challenging.
A deal would complete a full circle for the lender hardest hit by an asset quality crisis: in 2018, bad loans comprised nearly one-third of its portfolio. Provisions for that sour pool eroded its capital base and prompted New Delhi, which then owned 86% of IDBI, to press state-backed Life Insurance Corporation LIFI.NS to pump in 216 billion rupees, or $2.4 billion at current rates, to raise its 8% stake to 51% in 2019.
LIC now holds 49% of IDBI's shares and the government owns 45%. Selling a 30% stake to Fairfax at the latest market price would fetch the insurer a 136% return on its 2019 investment. New Delhi would be worse off, though: the lender's shares trade lower than they did 13 years ago.
Yet even current multiples may be difficult to fetch. IDBI's shares are trading at about 2 times forward book value, almost twice that of similar-sized rivals Yes Bank YESB.NS and IDFC First Bank IDFB.NS. Throwing in employee liabilities, restructuring costs and the likely absence of indemnity clauses gives the buyer a strong case for a discount.
An abundance of takeover targets has hurt New Delhi, too. Launched in 2022, the slow-moving sale process of IDBI prompted early potential bidders to look elsewhere: last year Sumitomo Mitsui Banking Corporation 8316.T bought a 24% stake in Yes Bank.
With Emirates NBD ENBD.DU still in the reckoning with Fairfax, it's a two-horse race to own IDBI. Both bidders already have a foothold in India's credit market: the Dubai-headquartered lender is set to take control of the $2 billion RBL Bank RATB.NS and Fairfax owns $675 million CSB Bank CSBB.NS.
That chips away at any shred of bargaining power left with the sellers, who can hardly demand a control premium. Regulations cap voting rights of private bank shareholders at 26%. That puts the new owner effectively at par on voting decisions with LIC and the government, which will hold a combined 34% after the sale. To maximise takings, officials could ask the central bank to relax the voting rule. The other option is to reduce their total stake to well below 26%.
Otherwise, New Delhi risks catching the weak end of India's banking M&A wave.
Follow Shritama Bose on LinkedIn and X.
CONTEXT NEWS
Fairfax Financial Holdings is the frontrunner to buy a majority stake in IDBI Bank, Bloomberg reported on February 27, citing unnamed people familiar with the matter.
Valuing the 61% stake that the government and the Life Insurance Corporation of India hold in IDBI at the current market price of about $8 billion could make it the biggest foreign direct investment in the country's banking sector, the report added.
IDBI's shares are worth less than they were 13 years ago https://www.reuters.com/graphics/BRV-BRV/gkplkwarovb/chart.png
(Editing by Antony Currie; Production by Ujjaini Dutta)
((For previous columns by the author, Reuters customers can click on BOSE/[email protected]))
The author is a Reuters Breakingviews columnist. The opinions expressed are her own.
By Shritama Bose
MUMBAI, March 9 (Reuters Breakingviews) - A dealmaking boom in India's banking sector has an unlikely loser: the government. Canadian insurance holding firm Fairfax Financial FFH.TO leads the race to buy a 61% stake from Indian state entities in $13 billion IDBI Bank IDBI.NS, Bloomberg reported in February, citing sources. An $8 billion transaction would be the largest-ever foreign direct investment in a local bank. But crystallising a premium valuation looks challenging.
A deal would complete a full circle for the lender hardest hit by an asset quality crisis: in 2018, bad loans comprised nearly one-third of its portfolio. Provisions for that sour pool eroded its capital base and prompted New Delhi, which then owned 86% of IDBI, to press state-backed Life Insurance Corporation LIFI.NS to pump in 216 billion rupees, or $2.4 billion at current rates, to raise its 8% stake to 51% in 2019.
LIC now holds 49% of IDBI's shares and the government owns 45%. Selling a 30% stake to Fairfax at the latest market price would fetch the insurer a 136% return on its 2019 investment. New Delhi would be worse off, though: the lender's shares trade lower than they did 13 years ago.
Yet even current multiples may be difficult to fetch. IDBI's shares are trading at about 2 times forward book value, almost twice that of similar-sized rivals Yes Bank YESB.NS and IDFC First Bank IDFB.NS. Throwing in employee liabilities, restructuring costs and the likely absence of indemnity clauses gives the buyer a strong case for a discount.
An abundance of takeover targets has hurt New Delhi, too. Launched in 2022, the slow-moving sale process of IDBI prompted early potential bidders to look elsewhere: last year Sumitomo Mitsui Banking Corporation 8316.T bought a 24% stake in Yes Bank.
With Emirates NBD ENBD.DU still in the reckoning with Fairfax, it's a two-horse race to own IDBI. Both bidders already have a foothold in India's credit market: the Dubai-headquartered lender is set to take control of the $2 billion RBL Bank RATB.NS and Fairfax owns $675 million CSB Bank CSBB.NS.
That chips away at any shred of bargaining power left with the sellers, who can hardly demand a control premium. Regulations cap voting rights of private bank shareholders at 26%. That puts the new owner effectively at par on voting decisions with LIC and the government, which will hold a combined 34% after the sale. To maximise takings, officials could ask the central bank to relax the voting rule. The other option is to reduce their total stake to well below 26%.
Otherwise, New Delhi risks catching the weak end of India's banking M&A wave.
Follow Shritama Bose on LinkedIn and X.
CONTEXT NEWS
Fairfax Financial Holdings is the frontrunner to buy a majority stake in IDBI Bank, Bloomberg reported on February 27, citing unnamed people familiar with the matter.
Valuing the 61% stake that the government and the Life Insurance Corporation of India hold in IDBI at the current market price of about $8 billion could make it the biggest foreign direct investment in the country's banking sector, the report added.
IDBI's shares are worth less than they were 13 years ago https://www.reuters.com/graphics/BRV-BRV/gkplkwarovb/chart.png
(Editing by Antony Currie; Production by Ujjaini Dutta)
((For previous columns by the author, Reuters customers can click on BOSE/[email protected]))
-- Source link: https://tinyurl.com/5f8977v7
-- Note: Reuters has not verified this story and does not vouch for its accuracy
-- Source link: https://tinyurl.com/5f8977v7
-- Note: Reuters has not verified this story and does not vouch for its accuracy
Feb 10 (Reuters) - IDBI Bank Ltd IDBI.NS:
IDBI BANK LTD - RECEIVES NOTICE OF STRIKE ON FEBRUARY 12, 2026
Source text: ID:nBSE4HyZ3Z
Further company coverage: IDBI.NS
(([email protected];))
Feb 10 (Reuters) - IDBI Bank Ltd IDBI.NS:
IDBI BANK LTD - RECEIVES NOTICE OF STRIKE ON FEBRUARY 12, 2026
Source text: ID:nBSE4HyZ3Z
Further company coverage: IDBI.NS
(([email protected];))
** India's IDBI Bank IDBI.NS shares drop 2% in early trade
** India's divestment secretary said on Friday it got bids for a stake sale in the lender without disclosing details
** Reuters reported on Friday citing sources Kotak Mahindra Bank KTKM.NS among firms in fray to bid for IDBI Bank stake
** KTKM, in an exchange filing on Saturday, denied participation in the sale
** KTKM shares up 1% on the day
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
** India's IDBI Bank IDBI.NS shares drop 2% in early trade
** India's divestment secretary said on Friday it got bids for a stake sale in the lender without disclosing details
** Reuters reported on Friday citing sources Kotak Mahindra Bank KTKM.NS among firms in fray to bid for IDBI Bank stake
** KTKM, in an exchange filing on Saturday, denied participation in the sale
** KTKM shares up 1% on the day
(Reporting by Hritam Mukherjee in Bengaluru)
(([email protected];))
Feb 7 (Reuters) - India's Kotak Mahindra Bank KTKM.NS said in an exchange filing on Saturday that it has not submitted a financial bid as part of the disinvestment process relating to IDBI Bank IDBI.NS.
Reuters on Friday reported that the private lender was one of the bidders for the state-owned bank.
(Reporting by Sai Ishwarbharath B; Editing by Sam Holmes)
Feb 7 (Reuters) - India's Kotak Mahindra Bank KTKM.NS said in an exchange filing on Saturday that it has not submitted a financial bid as part of the disinvestment process relating to IDBI Bank IDBI.NS.
Reuters on Friday reported that the private lender was one of the bidders for the state-owned bank.
(Reporting by Sai Ishwarbharath B; Editing by Sam Holmes)
Adds source based details of bidders
By Gopika Gopakumar, Ashwin Manikandan and Nikunj Ohri
NEW DELHI, Feb 6 (Reuters) - The planned sale of India's state-owned IDBI Bank IDBI.NS has attracted bids from Canadian investment group Fairfax Financial FFH.TO, Emirates NBD ENBD.DU and Kotak Mahindra Bank KTKM.NS, according to three sources with knowledge of the matter.
The Indian government and state-owned Life Insurance Corporation of India (LIC) LIFI.NS together plan to sell 60.7% of the lender as part of a broader government privatisation programme. The government owns 45.48% of IDBI Bank, while LIC holds 49.24%.
The government has received bids for the bank, Divestment Secretary Arunish Chawla said on Friday, without disclosing details.
The bids will be evaluated as per the government’s stake sale process, Chawla said in a post on X.
The sale of IDBI was first announced in 2022, and the government plans to announce the buyer by March.
At the bank's current market capitalisation of 1.14 trillion Indian rupees ($12.60 billion), the 60% stake would be worth over $7.5 billion. Reuters could not determine the value of the bids placed by potential buyers.
Fairfax, which already has a majority stake in India's CSB BankCSBB.NS, will look to merge IDBI Bank with it if they win the bid, one of the sources said.
Kotak Mahindra Bank and Emirates NBD have also submitted bids, all three sources said.
The sources declined to be identified as they are not authorised to speak to the media.
Emails sent to India's federal finance ministry, Fairfax, Emirates NBD and Kotak Mahindra Bank requesting comment were not immediately answered.
The government has previously said the sale will be concluded in the current financial year ending March 31, 2026. The successful bidder will be allowed to rename the bank, Reuters reported last week.
IDBI Bank had to be rescued by the state-owned insurer in 2019, after a surge in bad loans. Its share price has gained 26% in the last 12 months in anticipation of a sale.
(Reporting by Gopika Gopakumar and Ashwin Manikandan in Mumbai and Nikunj Ohri in New Delhi, writing by Shilpa Jamkhandikar; editing by Alexandra Hudson and Susan Fenton)
(([email protected];))
Adds source based details of bidders
By Gopika Gopakumar, Ashwin Manikandan and Nikunj Ohri
NEW DELHI, Feb 6 (Reuters) - The planned sale of India's state-owned IDBI Bank IDBI.NS has attracted bids from Canadian investment group Fairfax Financial FFH.TO, Emirates NBD ENBD.DU and Kotak Mahindra Bank KTKM.NS, according to three sources with knowledge of the matter.
The Indian government and state-owned Life Insurance Corporation of India (LIC) LIFI.NS together plan to sell 60.7% of the lender as part of a broader government privatisation programme. The government owns 45.48% of IDBI Bank, while LIC holds 49.24%.
The government has received bids for the bank, Divestment Secretary Arunish Chawla said on Friday, without disclosing details.
The bids will be evaluated as per the government’s stake sale process, Chawla said in a post on X.
The sale of IDBI was first announced in 2022, and the government plans to announce the buyer by March.
At the bank's current market capitalisation of 1.14 trillion Indian rupees ($12.60 billion), the 60% stake would be worth over $7.5 billion. Reuters could not determine the value of the bids placed by potential buyers.
Fairfax, which already has a majority stake in India's CSB BankCSBB.NS, will look to merge IDBI Bank with it if they win the bid, one of the sources said.
Kotak Mahindra Bank and Emirates NBD have also submitted bids, all three sources said.
The sources declined to be identified as they are not authorised to speak to the media.
Emails sent to India's federal finance ministry, Fairfax, Emirates NBD and Kotak Mahindra Bank requesting comment were not immediately answered.
The government has previously said the sale will be concluded in the current financial year ending March 31, 2026. The successful bidder will be allowed to rename the bank, Reuters reported last week.
IDBI Bank had to be rescued by the state-owned insurer in 2019, after a surge in bad loans. Its share price has gained 26% in the last 12 months in anticipation of a sale.
(Reporting by Gopika Gopakumar and Ashwin Manikandan in Mumbai and Nikunj Ohri in New Delhi, writing by Shilpa Jamkhandikar; editing by Alexandra Hudson and Susan Fenton)
(([email protected];))
Adds details from paragraph 2-9
By Nikunj Ohri
NEW DELHI, Feb 2 (Reuters) - The Indian government is holding inter-ministerial consultations to raise the limit on foreign direct investment in state-run banks to 49% from 20%, India's financial services secretary M Nagaraju told reporters on Monday.
Foreign interest in India's banking industry is on the rise as evidenced for instance by Dubai-based Emirates NBD's ENBD.DU $3 billion purchase of a 60% stake in private RBL Bank RATB.NS.
Currently, India allows 74% foreign investment in private banks but limits shareholdings of any single foreign institution to 15% unless the Reserve Bank of India grants an exemption.
The Asian nation plans to more than double current limits of direct foreign investment in state-run banks, Nagaraju said. Raising the foreign ownership limit will help them gain more capital in the coming years, Reuters reported last year.
Separately, India's state-run banks will launch qualified institutional placement (QIP) of shares worth about 500 billion rupees ($5.46 billion) in the fiscal 2026-27 year (April-March), more than the planned 450 billion rupees in the current fiscal year, Nagaraju said.
He was speaking to reporters in New Delhi a day after Finance Minister Nirmala Sitharaman presented the nation's annual budget .
New Delhi may also launch an offer next year to sell a portion of its stake in the insurance behemoth Life Insurance Corporation LIFI.NS, he added.
The Indian government will also get financial bids for IDBI Bank IDBI.NS this month, Nagaraju said.
The government, which owns 45.48% in IDBI Bank, and state-owned LIC which holds 49.24%, together plan to sell 60.7% of the lender. IDBI Bank had to be rescued by the state-owned insurer in 2019 after a surge in bad loans at the lender.
($1 = 91.6350 Indian rupees)
(Reporting by Nikunj Ohri; Writing by Tanvi Mehta; Editing by Sonali Paul and Raju Gopalakrishnan)
(([email protected];))
Adds details from paragraph 2-9
By Nikunj Ohri
NEW DELHI, Feb 2 (Reuters) - The Indian government is holding inter-ministerial consultations to raise the limit on foreign direct investment in state-run banks to 49% from 20%, India's financial services secretary M Nagaraju told reporters on Monday.
Foreign interest in India's banking industry is on the rise as evidenced for instance by Dubai-based Emirates NBD's ENBD.DU $3 billion purchase of a 60% stake in private RBL Bank RATB.NS.
Currently, India allows 74% foreign investment in private banks but limits shareholdings of any single foreign institution to 15% unless the Reserve Bank of India grants an exemption.
The Asian nation plans to more than double current limits of direct foreign investment in state-run banks, Nagaraju said. Raising the foreign ownership limit will help them gain more capital in the coming years, Reuters reported last year.
Separately, India's state-run banks will launch qualified institutional placement (QIP) of shares worth about 500 billion rupees ($5.46 billion) in the fiscal 2026-27 year (April-March), more than the planned 450 billion rupees in the current fiscal year, Nagaraju said.
He was speaking to reporters in New Delhi a day after Finance Minister Nirmala Sitharaman presented the nation's annual budget .
New Delhi may also launch an offer next year to sell a portion of its stake in the insurance behemoth Life Insurance Corporation LIFI.NS, he added.
The Indian government will also get financial bids for IDBI Bank IDBI.NS this month, Nagaraju said.
The government, which owns 45.48% in IDBI Bank, and state-owned LIC which holds 49.24%, together plan to sell 60.7% of the lender. IDBI Bank had to be rescued by the state-owned insurer in 2019 after a surge in bad loans at the lender.
($1 = 91.6350 Indian rupees)
(Reporting by Nikunj Ohri; Writing by Tanvi Mehta; Editing by Sonali Paul and Raju Gopalakrishnan)
(([email protected];))
By Gopika Gopakumar and Nikunj Ohri
MUMBAI, Jan 30 (Reuters) - India's federal government has set a February 5 deadline for financial bids for IDBI Bank IDBI.NS as it looks to divest a majority of its holding in the lender, according to two sources familiar with the matter.
The deadline has been communicated to bidders who are eligible for bidding, suggesting that the process of disinvestment in IDBI Bank has entered its final phase.
The central bank had approved Fairfax Financial Holdings, Emirates NBD and Kotak Mahindra Bank KTKM.NS as eligible bidders in 2024, Reuters had previously reported. The divestment process has been underway since then, with the government trying to finalize the details of the stake sale process.
The government had earlier said that it hoped to complete the stake sale process, which began in 2022, by March 2026.
The government, which owns 45.48% in IDBI Bank, and state-owned Life Insurance Corporation of India LIFI.NS which holds 49.24%, together plan to sell 60.7% of the lender.
As part of the stake sale, the successful bidder will be allowed to rename the bank, a separate source familiar with the process said.
IDBI Bank had to be rescued by the state-owned insurer in 2019 after a surge in bad loans at the lender.
An email sent to the federal finance ministry, under which the divestment process falls, was not immediately answered.
(Reporting by Gopika Gopakumar in Mumbai and Nikunj Ohri in New Delhi; Editing by Anil D'Silva)
(([email protected]; +91-9833024892;))
By Gopika Gopakumar and Nikunj Ohri
MUMBAI, Jan 30 (Reuters) - India's federal government has set a February 5 deadline for financial bids for IDBI Bank IDBI.NS as it looks to divest a majority of its holding in the lender, according to two sources familiar with the matter.
The deadline has been communicated to bidders who are eligible for bidding, suggesting that the process of disinvestment in IDBI Bank has entered its final phase.
The central bank had approved Fairfax Financial Holdings, Emirates NBD and Kotak Mahindra Bank KTKM.NS as eligible bidders in 2024, Reuters had previously reported. The divestment process has been underway since then, with the government trying to finalize the details of the stake sale process.
The government had earlier said that it hoped to complete the stake sale process, which began in 2022, by March 2026.
The government, which owns 45.48% in IDBI Bank, and state-owned Life Insurance Corporation of India LIFI.NS which holds 49.24%, together plan to sell 60.7% of the lender.
As part of the stake sale, the successful bidder will be allowed to rename the bank, a separate source familiar with the process said.
IDBI Bank had to be rescued by the state-owned insurer in 2019 after a surge in bad loans at the lender.
An email sent to the federal finance ministry, under which the divestment process falls, was not immediately answered.
(Reporting by Gopika Gopakumar in Mumbai and Nikunj Ohri in New Delhi; Editing by Anil D'Silva)
(([email protected]; +91-9833024892;))
** Shares of Indian lender IDBI Bank IDBI.NS rise 2.55% to 97.89 rupees
** Govt has formally invited bids for strategic disinvestment in the bank to privatize it - media report from NDTV Profit
** All key regulatory and security clearances completed, decision likely to be announced by March - report
** Trading vols at 18.3 mln shares so far vs 30-day avg of 15.8 mln shares
** Stock up ~35% in 2025
(Reporting by Abhirami G in Bengaluru)
** Shares of Indian lender IDBI Bank IDBI.NS rise 2.55% to 97.89 rupees
** Govt has formally invited bids for strategic disinvestment in the bank to privatize it - media report from NDTV Profit
** All key regulatory and security clearances completed, decision likely to be announced by March - report
** Trading vols at 18.3 mln shares so far vs 30-day avg of 15.8 mln shares
** Stock up ~35% in 2025
(Reporting by Abhirami G in Bengaluru)
Dec 29 (Reuters) - IDBI Bank Ltd IDBI.NS:
FACES 3.5 MILLION RUPEES PENALTY
Source text: ID:nBSE1BVT01
Further company coverage: IDBI.NS
(([email protected];))
Dec 29 (Reuters) - IDBI Bank Ltd IDBI.NS:
FACES 3.5 MILLION RUPEES PENALTY
Source text: ID:nBSE1BVT01
Further company coverage: IDBI.NS
(([email protected];))
Repeats story published on Monday, with no changes to the text
By Gopika Gopakumar
Oct 13 (Reuters) - Dubai-based bank Emirates NBD ENBD.DU is in advanced talks to buy a stake in Indian private lender RBL Bank RATB.NS, two people familiar with the deal told Reuters.
The Dubai bank is looking to invest in the lender via a preferential allotment of equity and warrants, one of the people familiar with the deal said.
The initial stake purchase could go up to 25%, that person said.
Both sources declined to be identified as they are not authorised to speak to the media.
The talks were first reported by two Indian financial media outlets.
Emirates NBD declined comment while RBL Bank did not immediately respond to a Reuters request for comment.
RBL Bank has a market capitalisation of 177.28 billion Indian rupees ($2.00 billion) and is widely held by retail shareholders and fund houses, as per data from NSE. Shares on Monday closed down 0.82%.
Reuters could not determine the value of the deal or if it will be announced imminently.
The UAE's second-largest bank by total assets has been looking to expand in India and was previously in talks to pick up a stake in government-owned IDBI BankIDBI.NS.
Reuters reported in June that the Reserve Bank of India (RBI) was considering possible rule changes to allow higher foreign ownership in Indian banks, amid overseas buyers' interest and India's need for long-term capital.
Under current regulations, foreigners, including portfolio investors, can own up to 74%, but a strategic foreign investor is limited to 15%.
In May, the RBI made an exception to allow Japan's Sumitomo Mitsui Banking Corp (SMBC) to buy a 20% stake in Yes Bank. SMBC agreed to acquire a further 4.2% stake in September.
($1 = 88.6350 Indian rupees)
(Reporting by Gopika Gopakumar in Mumbai; Additional reporting by Ananta Agarwal in Bengaluru and Federico Maccioni; Editing by Tasim Zahid and Tomasz Janowski)
(([email protected];))
Repeats story published on Monday, with no changes to the text
By Gopika Gopakumar
Oct 13 (Reuters) - Dubai-based bank Emirates NBD ENBD.DU is in advanced talks to buy a stake in Indian private lender RBL Bank RATB.NS, two people familiar with the deal told Reuters.
The Dubai bank is looking to invest in the lender via a preferential allotment of equity and warrants, one of the people familiar with the deal said.
The initial stake purchase could go up to 25%, that person said.
Both sources declined to be identified as they are not authorised to speak to the media.
The talks were first reported by two Indian financial media outlets.
Emirates NBD declined comment while RBL Bank did not immediately respond to a Reuters request for comment.
RBL Bank has a market capitalisation of 177.28 billion Indian rupees ($2.00 billion) and is widely held by retail shareholders and fund houses, as per data from NSE. Shares on Monday closed down 0.82%.
Reuters could not determine the value of the deal or if it will be announced imminently.
The UAE's second-largest bank by total assets has been looking to expand in India and was previously in talks to pick up a stake in government-owned IDBI BankIDBI.NS.
Reuters reported in June that the Reserve Bank of India (RBI) was considering possible rule changes to allow higher foreign ownership in Indian banks, amid overseas buyers' interest and India's need for long-term capital.
Under current regulations, foreigners, including portfolio investors, can own up to 74%, but a strategic foreign investor is limited to 15%.
In May, the RBI made an exception to allow Japan's Sumitomo Mitsui Banking Corp (SMBC) to buy a 20% stake in Yes Bank. SMBC agreed to acquire a further 4.2% stake in September.
($1 = 88.6350 Indian rupees)
(Reporting by Gopika Gopakumar in Mumbai; Additional reporting by Ananta Agarwal in Bengaluru and Federico Maccioni; Editing by Tasim Zahid and Tomasz Janowski)
(([email protected];))
Aug 8 (Reuters) - IDBI Bank Ltd IDBI.NS:
IDBI BANK LTD - RECEIVES NOTICE FOR STRIKE ON AUGUST 11, 2025
Source text: ID:nBSEbwfWdB
Further company coverage: IDBI.NS
(([email protected];))
Aug 8 (Reuters) - IDBI Bank Ltd IDBI.NS:
IDBI BANK LTD - RECEIVES NOTICE FOR STRIKE ON AUGUST 11, 2025
Source text: ID:nBSEbwfWdB
Further company coverage: IDBI.NS
(([email protected];))
Adds details on timing, stake from paragraph 2
NEW DELHI, Aug 1 (Reuters) - India has completed due diligence for the stake sale of IDBI Bank IDBI.NS and plans to invite financial bids between October and December, the country's divestment secretary said on Friday.
A successful bidder will be announced by the end of March 2026, said Arunish Chawla, Department of Investment and Public Asset Management Secretary.
Banking sector deals in India, especially those involving foreign entities, are rare. A full takeover of troubled Indian lender Lakshmi Vilas Bank by Singapore-based DBS Group in a regulatory-driven transaction in 2020 was the last major deal.
The sale of a majority stake in IDBI Bank has been seen as a first step towards privatising state-run banks.
The government, which owns 45.48% in IDBI Bank, and state-owned Life Insurance Corporation of India LIFI.NS which holds 49.24%, together plan to sell 60.7% of the lender.
The sale process was first announced in 2022.
Reuters has reported that interested buyers include Emirates NBD and Canadian billionaire Prem Watsa.
(Reporting by Nikunj Ohri, Writing by Shilpa Jamkhandikar, Editing by Louise Heavens)
(([email protected];))
Adds details on timing, stake from paragraph 2
NEW DELHI, Aug 1 (Reuters) - India has completed due diligence for the stake sale of IDBI Bank IDBI.NS and plans to invite financial bids between October and December, the country's divestment secretary said on Friday.
A successful bidder will be announced by the end of March 2026, said Arunish Chawla, Department of Investment and Public Asset Management Secretary.
Banking sector deals in India, especially those involving foreign entities, are rare. A full takeover of troubled Indian lender Lakshmi Vilas Bank by Singapore-based DBS Group in a regulatory-driven transaction in 2020 was the last major deal.
The sale of a majority stake in IDBI Bank has been seen as a first step towards privatising state-run banks.
The government, which owns 45.48% in IDBI Bank, and state-owned Life Insurance Corporation of India LIFI.NS which holds 49.24%, together plan to sell 60.7% of the lender.
The sale process was first announced in 2022.
Reuters has reported that interested buyers include Emirates NBD and Canadian billionaire Prem Watsa.
(Reporting by Nikunj Ohri, Writing by Shilpa Jamkhandikar, Editing by Louise Heavens)
(([email protected];))
Adds quote in paragraph 4, updates subscription level in paragraph 8
By Vivek Kumar M, Chandini Monnappa and Hritam Mukherjee
July 30 (Reuters) - National Securities Depository Ltd's NATS.NS $458 million IPO was fully subscribed within hours of its Wednesday launch as investors rushed to back its leading position in India's rapidly growing securities market.
The country's largest depository is drawing strong investor interest amid a retail investing boom, with demat accounts growing at a 21.9% compound annual rate since fiscal 2014 to 192.4 million by March 2025, according to its offer document.
NSDL holds around 86% of India's securities depository market, where it operates as one of two licensed players. Shares of smaller rival Central Depository Services CENA.NS have surged nearly twelve-fold since their 2017 debut.
"NSDL's valuation is decent compared to CDSL at ~60x. This differential could lead to some investors exiting CDSL and buying NSDL post the latter's listing," said Ambareesh Baliga, an independent market analyst.
NSDL's IPO is an offer for sale, with IDBI Bank IDBI.NS and the National Stock Exchange paring stakes to meet the 15% regulatory ownership cap for market infrastructure institutions such as depositories.
The offering, among India's largest this year, raised $137.35 million in its anchor round on Tuesday from marquee investors including Life Insurance Corporation of India LIFI.NS and U.S.-based Capital International.
Shares were allotted at the upper end of the price band of 760 rupees to 800 rupees. The issue will close on August 1.
The portions reserved for retail and non-institutional investors were fully subscribed, while qualified institutional buyers bid for 79% of the shares allotted.
Three analysts said NSDL's issue was fairly priced at 47x of fiscal year 2025 earnings.
"Given its strong market position, high entry barriers, and long-term growth tailwinds from India's digital and capital market expansion, we assign a 'subscribe' rating for long-term investors," Angel One said in a note.
($1 = 87.3470 Indian rupees)
(Reporting by Chandini Monnappa, Hritam Mukherjee and Vivek Kumar M in Bengaluru; Editing by Nivedita Bhattacharjee and Mrigank Dhaniwala)
(([email protected]; X: @MukherjeeHritam;))
Adds quote in paragraph 4, updates subscription level in paragraph 8
By Vivek Kumar M, Chandini Monnappa and Hritam Mukherjee
July 30 (Reuters) - National Securities Depository Ltd's NATS.NS $458 million IPO was fully subscribed within hours of its Wednesday launch as investors rushed to back its leading position in India's rapidly growing securities market.
The country's largest depository is drawing strong investor interest amid a retail investing boom, with demat accounts growing at a 21.9% compound annual rate since fiscal 2014 to 192.4 million by March 2025, according to its offer document.
NSDL holds around 86% of India's securities depository market, where it operates as one of two licensed players. Shares of smaller rival Central Depository Services CENA.NS have surged nearly twelve-fold since their 2017 debut.
"NSDL's valuation is decent compared to CDSL at ~60x. This differential could lead to some investors exiting CDSL and buying NSDL post the latter's listing," said Ambareesh Baliga, an independent market analyst.
NSDL's IPO is an offer for sale, with IDBI Bank IDBI.NS and the National Stock Exchange paring stakes to meet the 15% regulatory ownership cap for market infrastructure institutions such as depositories.
The offering, among India's largest this year, raised $137.35 million in its anchor round on Tuesday from marquee investors including Life Insurance Corporation of India LIFI.NS and U.S.-based Capital International.
Shares were allotted at the upper end of the price band of 760 rupees to 800 rupees. The issue will close on August 1.
The portions reserved for retail and non-institutional investors were fully subscribed, while qualified institutional buyers bid for 79% of the shares allotted.
Three analysts said NSDL's issue was fairly priced at 47x of fiscal year 2025 earnings.
"Given its strong market position, high entry barriers, and long-term growth tailwinds from India's digital and capital market expansion, we assign a 'subscribe' rating for long-term investors," Angel One said in a note.
($1 = 87.3470 Indian rupees)
(Reporting by Chandini Monnappa, Hritam Mukherjee and Vivek Kumar M in Bengaluru; Editing by Nivedita Bhattacharjee and Mrigank Dhaniwala)
(([email protected]; X: @MukherjeeHritam;))
Adds more details from source, background in paragraphs 3-4
July 9 (Reuters) - Indian state-owned banks will raise around 450 billion rupees ($5.25 billion) through qualified institutional placement (QIP) of shares in the 2025-26 financial year, a government source told reporters on Wednesday.
State Bank of India SBI.NS, the country's biggest lender by assets, will launch its QIP soon, the source said. The bank had in May approved raising 250 billion rupees in equity capital this year.
The government will also complete its stake sale in IDBI Bank by October and also plans to sell shares in UCO Bank, Bank of Maharashtra, Central Bank of India, Punjab & Sind Bank and Indian Overseas Bank in the financial year, the source added.
Prime Minister Narendra Modi's government laid out plans in this year's budget to raise 470 billion rupees through stake sales and asset monetisation.
India's finance ministry and SBI did not immediately respond to Reuters requests for comment outside office hours.
($1 = 85.6900 Indian rupees)
(Reporting by Nikunj Ohri in New Delhi; Writing by Chris Thomas; Editing by Shailesh Kuber)
(([email protected];))
Adds more details from source, background in paragraphs 3-4
July 9 (Reuters) - Indian state-owned banks will raise around 450 billion rupees ($5.25 billion) through qualified institutional placement (QIP) of shares in the 2025-26 financial year, a government source told reporters on Wednesday.
State Bank of India SBI.NS, the country's biggest lender by assets, will launch its QIP soon, the source said. The bank had in May approved raising 250 billion rupees in equity capital this year.
The government will also complete its stake sale in IDBI Bank by October and also plans to sell shares in UCO Bank, Bank of Maharashtra, Central Bank of India, Punjab & Sind Bank and Indian Overseas Bank in the financial year, the source added.
Prime Minister Narendra Modi's government laid out plans in this year's budget to raise 470 billion rupees through stake sales and asset monetisation.
India's finance ministry and SBI did not immediately respond to Reuters requests for comment outside office hours.
($1 = 85.6900 Indian rupees)
(Reporting by Nikunj Ohri in New Delhi; Writing by Chris Thomas; Editing by Shailesh Kuber)
(([email protected];))
July 8 (Reuters) - IDBI Bank Ltd IDBI.NS:
RECEIVES STRIKE NOTICE FOR JULY 09, 2025
Source text: ID:nBSEbw1R5X
Further company coverage: IDBI.NS
(([email protected];;))
July 8 (Reuters) - IDBI Bank Ltd IDBI.NS:
RECEIVES STRIKE NOTICE FOR JULY 09, 2025
Source text: ID:nBSEbw1R5X
Further company coverage: IDBI.NS
(([email protected];;))
Indian central bank reviewing ownership rules for banks
Foreign banks eager to tap India's rapid growth, trade deals
SMBC's deal for Yes Bank shows foreign interest, RBI flexibility
By Ira Dugal and Swati Bhat
MUMBAI, June 3 (Reuters) - The Indian banking regulator is signalling possible rule changes ahead that would let foreigners own more of India's banks, spurred by overseas institutions' eagerness for acquisitions and the fast-growing economy's need for more long-term capital.
The Reserve Bank of India last month bent its rules to let Japan's Sumitomo Mitsui Banking Corp buy a 20% stake in Yes Bank, and two foreign institutions are vying for a stake in IDBI Bank, highlighting the pressure to ease foreign ownership rules that are among the strictest of any major economy.
RBI Governor Sanjay Malhotra told the Times of India last week that the central bank was examining shareholding and licensing rules for banks as part of a broader review.
A source familiar with the central bank's thinking said it would be more open to letting regulated financial institutions own bigger stakes, with approvals on a case-by-case basis, and to certain rule changes that could address disincentives for foreign acquisitions.
Analysts say foreign banks are keen for deals in India, the world's fastest-growing major economy, especially as it angles for regional trade agreements. Such pacts could open up new opportunities in India for global lenders elsewhere in Asia and the Middle East.
"The interest is driven by India's strong economic growth and large under-penetrated market," said Madhav Nair, deputy chairman of the Indian Banks Association.
Indian regulators, for their part, worry that India lags other large economies in mobilising banking capital, which will be vital to sustaining rapid economic growth.
Alka Anbarasu, associate managing director at Moody's Investors Service, said India will need much more capital for its banking system over the medium term.
"Whether this has prompted the regulator to consider bringing in strong international players into the banking system, it would be a good rationale for doing so," she said.
While most large global banks from Citibank to HSBC to Standard Chartered have operations in India, they are focused on the more profitable corporate and transaction banking segments, along with trading, rather than bread-and-butter lending.
The share of foreign banks in outstanding bank credit in India is less than 4%, central bank data shows.
Banking remains one of the most guarded sectors of the Indian economy. While foreigners including portfolio investors can own up to 74%, regulations limit a strategic foreign investor's stake to 15%.
Foreign banks are also deterred by a maze of other regulations, including a 26% cap on voting rights and a requirement that any large shareholding by a so-called promoter - a strategic investor with direct influence over management decisions - be sold down to 26% within 15 years.
The RBI is open to giving foreign buyers more time to sell down their stake, the source familiar with the bank's thinking said. The source declined to be identified as the deliberations are confidential.
The RBI did not respond to an email seeking comment.
The source also highlighted the banking regulator's increased openness to case-by-case exemptions from the 15% ownership limit, as offered for the Yes Bank YESB.NS purchase. The $1.58 billion deal was the largest cross-border acquisition ever in India's financial sector.
Two foreign investors - Canada's Fairfax Holdings and Emirates NBD - are also contending for a 60% stake in government-owned IDBI Bank.
Emirates recently received regulatory approval to set up an Indian subsidiary, making it only the third major foreign bank to do so after Singapore's DBS and State Bank of Mauritius.
The decision was prompted by an interest to acquire a majority stake in IDBI Bank, a source familiar with the buyers' thinking said.
Emirates NBD declined to comment. Fairfax did not respond to a request for comment.
An increase in the 26% cap on voting rights, or in the 15% investment limit, could encourage foreign bank investors, ratings agency Fitch said in a note last week.
It believes the RBI's preference is for foreign banks with a strong performance and solid governance to acquire stakes larger than 26% through wholly owned subsidiaries regulated in India.
The source familiar with RBI thinking said the limit on voting rights was hard-coded in law and would need to be reviewed by the finance ministry.
On regulatory issues under the central bank's purview, the source added, the stance on foreign strategic investors may need to be adjusted, especially given domestic investors' lack of interest in running banks.
"Where the long-term capital will come from will have to be thought through," the source said.
Share of foreign banks in India is low https://reut.rs/43TVhae
(Reporting by Ira Dugal and Swati Bhat; Editing by Edmund Klamann)
(([email protected]; +91-9833024892;))
Indian central bank reviewing ownership rules for banks
Foreign banks eager to tap India's rapid growth, trade deals
SMBC's deal for Yes Bank shows foreign interest, RBI flexibility
By Ira Dugal and Swati Bhat
MUMBAI, June 3 (Reuters) - The Indian banking regulator is signalling possible rule changes ahead that would let foreigners own more of India's banks, spurred by overseas institutions' eagerness for acquisitions and the fast-growing economy's need for more long-term capital.
The Reserve Bank of India last month bent its rules to let Japan's Sumitomo Mitsui Banking Corp buy a 20% stake in Yes Bank, and two foreign institutions are vying for a stake in IDBI Bank, highlighting the pressure to ease foreign ownership rules that are among the strictest of any major economy.
RBI Governor Sanjay Malhotra told the Times of India last week that the central bank was examining shareholding and licensing rules for banks as part of a broader review.
A source familiar with the central bank's thinking said it would be more open to letting regulated financial institutions own bigger stakes, with approvals on a case-by-case basis, and to certain rule changes that could address disincentives for foreign acquisitions.
Analysts say foreign banks are keen for deals in India, the world's fastest-growing major economy, especially as it angles for regional trade agreements. Such pacts could open up new opportunities in India for global lenders elsewhere in Asia and the Middle East.
"The interest is driven by India's strong economic growth and large under-penetrated market," said Madhav Nair, deputy chairman of the Indian Banks Association.
Indian regulators, for their part, worry that India lags other large economies in mobilising banking capital, which will be vital to sustaining rapid economic growth.
Alka Anbarasu, associate managing director at Moody's Investors Service, said India will need much more capital for its banking system over the medium term.
"Whether this has prompted the regulator to consider bringing in strong international players into the banking system, it would be a good rationale for doing so," she said.
While most large global banks from Citibank to HSBC to Standard Chartered have operations in India, they are focused on the more profitable corporate and transaction banking segments, along with trading, rather than bread-and-butter lending.
The share of foreign banks in outstanding bank credit in India is less than 4%, central bank data shows.
Banking remains one of the most guarded sectors of the Indian economy. While foreigners including portfolio investors can own up to 74%, regulations limit a strategic foreign investor's stake to 15%.
Foreign banks are also deterred by a maze of other regulations, including a 26% cap on voting rights and a requirement that any large shareholding by a so-called promoter - a strategic investor with direct influence over management decisions - be sold down to 26% within 15 years.
The RBI is open to giving foreign buyers more time to sell down their stake, the source familiar with the bank's thinking said. The source declined to be identified as the deliberations are confidential.
The RBI did not respond to an email seeking comment.
The source also highlighted the banking regulator's increased openness to case-by-case exemptions from the 15% ownership limit, as offered for the Yes Bank YESB.NS purchase. The $1.58 billion deal was the largest cross-border acquisition ever in India's financial sector.
Two foreign investors - Canada's Fairfax Holdings and Emirates NBD - are also contending for a 60% stake in government-owned IDBI Bank.
Emirates recently received regulatory approval to set up an Indian subsidiary, making it only the third major foreign bank to do so after Singapore's DBS and State Bank of Mauritius.
The decision was prompted by an interest to acquire a majority stake in IDBI Bank, a source familiar with the buyers' thinking said.
Emirates NBD declined to comment. Fairfax did not respond to a request for comment.
An increase in the 26% cap on voting rights, or in the 15% investment limit, could encourage foreign bank investors, ratings agency Fitch said in a note last week.
It believes the RBI's preference is for foreign banks with a strong performance and solid governance to acquire stakes larger than 26% through wholly owned subsidiaries regulated in India.
The source familiar with RBI thinking said the limit on voting rights was hard-coded in law and would need to be reviewed by the finance ministry.
On regulatory issues under the central bank's purview, the source added, the stance on foreign strategic investors may need to be adjusted, especially given domestic investors' lack of interest in running banks.
"Where the long-term capital will come from will have to be thought through," the source said.
Share of foreign banks in India is low https://reut.rs/43TVhae
(Reporting by Ira Dugal and Swati Bhat; Editing by Edmund Klamann)
(([email protected]; +91-9833024892;))
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Popular questions
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What does IDBI Bank do?
IDBI Bank provides a wide gamut of financial products and services encompassing deposits, loans, payment services and investment solutions. It is committed to understanding its customers’ needs and aims at consistently delivering relevant financial solutions and excellent customer service. The Bank provides a wide range of services on a round-the-clock basis through a wide range of digital channels such as Mobile Banking, Internet Banking, WhatsApp Banking, UPI, Debit Cards, Credit Cards, Point of Sale (PoS) terminals (both physical and digital), Internet Payment Gateway, ATMs, etc.
Who are the competitors of IDBI Bank?
IDBI Bank major competitors are Indian Bank, Canara Bank, PNB, Indian Overseas Bank, Bank Of India, Bank of Maharashtra, Bank Of Baroda. Market Cap of IDBI Bank is ₹92,793 Crs. While the median market cap of its peers are ₹1,12,290 Crs.
Is IDBI Bank financially stable compared to its competitors?
IDBI Bank seems to be financially stable compared to its competitors. The probability of it going bankrupt or facing a financial crunch seem to be lower than its immediate competitors.
Does IDBI Bank pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. IDBI Bank latest dividend payout ratio is 29.59% and 3yr average dividend payout ratio is 28.73%
How has IDBI Bank allocated its funds?
Company has been allocating majority of new resources to productive uses like advances.
How strong is IDBI Bank balance sheet?
Latest balance sheet of IDBI Bank is strong, However historically the companies balance sheet has shown some weakness.
Is the profitablity of IDBI Bank improving?
Yes, profit is increasing. The profit of IDBI Bank is ₹9,210 Crs for Mar 2026, ₹7,631 Crs for Mar 2025 and ₹5,788 Crs for Mar 2024
Is IDBI Bank stock expensive?
IDBI Bank is not expensive. Latest PE of IDBI Bank is 10.08 while 3 year average PE is 14.93. Also latest Price to Book of IDBI Bank is 1.35 while 3yr average is 1.42.
Has the share price of IDBI Bank grown faster than its competition?
IDBI Bank has given lower returns compared to its competitors. IDBI Bank has grown at ~1.09% over the last 10yrs while peers have grown at a median rate of 5.95%
Is the promoter bullish about IDBI Bank?
Promoters stake in the company seems stable, and we need to go through filings and allocation of resources to gauge promoter bullishness. Latest quarter promoter holding in IDBI Bank is 94.71% and last quarter promoter holding is 94.71%.
Are mutual funds buying/selling IDBI Bank?
The mutual fund holding of IDBI Bank is increasing. The current mutual fund holding in IDBI Bank is 0.07% while previous quarter holding is 0.05%.