New Delhi: The government has received multiple Expressions of Interest (EOI) for the strategic disinvestment of the stake held by it and the Life Insurance Corporation of India (LIC) in IDBI Bank.
The transaction is expected to now move to the second stage, according to the tweet on Saturday from the Secretary, Department of Investment and Public Asset Management (DIPAM), Ministry of Finance.
The government and LIC are aiming to sell 60.72 per cent of IDBI Bank for which it had invited bids from potential buyers in October.
The deadline for submitting Expression of Interest (EoI) or preliminary bids was set as December 16 but later extended to January 7.
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