DIPAM had last week canceled the bidding process for the appointment of asset valuers for state-owned IDBI Bank. This was done due to not getting the expected response from the bidders.
The Narendra government at the Center invited a fresh request for proposal (RFP) from asset valuers for IDBI Bank. The government has decided on the strategic sale of IDBI Bank. Releasing the RFP, the Department of Investment and Public Asset Management (DIPAM) said asset valuers can submit their bids by January 5. DIPAM had last week canceled the bidding process for the appointment of asset valuers for IDBI Bank. This was done due to not getting the expected response from the bidders.
Fresh RFP floated: An official had said that a fresh RFP will be invited soon after reviewing some bidding criteria to get better interest from bidders. Asset valuers applying must be registered with the Insolvency and Bankruptcy Board of India, SEBI or the Institute of Chartered Accountants of India (ICAI).
DIPAM had earlier said the bank had 120 properties in the top seven cities. These include 68 properties in Mumbai, 20 in Pune, nine in Chennai and seven in Ahmedabad. Additionally, it has six properties in Kolkata and five each in Delhi and Hyderabad.
Plan to sell 61 percent stake in the bank: The government, along with LIC, is selling about 61 percent stake in IDBI Bank. For this, several expressions of interest (EOI) were received in January. DIPAM Secretary Tuhin Kant Pandey had last week said the IDBI Bank strategic sale deal was moving forward, but it would not be completed in the current financial year.
