The government is considering appointing an asset valuer to assess IDBI Bank’s assets and help with strategic disinvestment. The government along with LIC is selling around 61 per cent stake in IDBI Bank and has received several Expressions of Interest (EOI) for this.
The government and the Reserve Bank are currently scrutinizing the bids. Bidders will have to obtain necessary approvals from the government and RBI to proceed to the second phase of the bidding process. The Department of Investment and Public Asset Management (DIPAM), on behalf of the Government of India and LIC, issued an RFP (Request for Proposal) on Monday to appoint a reputed asset valuer entity registered with the Insolvency and Bankruptcy Board of India (IBBI). .
The selected entity will be tasked with evaluating IDBI Bank’s assets and assisting in strategic disinvestment. The last date for submission of bids is October 9.