The deadline to submit the preliminary bids for IDBI Bank’s privatisation is likely to be extended by almost a month till early January, a government official said on Friday.
The government and LIC together are looking to sell a 60.72 per cent stake in IDBI Bank, and the last date for submitting an expression of interest (EoI) or preliminary bids is December 16.
Transaction advisers have received a few requests for an extension of the deadline.
Since foreign investment bankers would not be working due to year-end holidays, the deadline would be extended, the official said.
“The deadline for submitting bids would be extended till early January,” the official said.
Concor bids
The government is likely to invite preliminary bids for privatising Container Corporation of India (Concor) in January.
The approval from the ministry of corporate affairs (MCA) for demerger of noncore and land assets of Shipping Corporation of India (SCI) is expected to come in this month, following which the government may invite financial bids for SCI in March or April, a senior finance ministry official said today.
While no further strategic stake sale is expected in the current fiscal ending March, the government will try and push for minority stake sales to inch towards the budgeted disinvestment target of Rs 65,000 crore.
