The Indian government anticipates that the sale of IDBI Bank will not reach a conclusion by the end of the financial year on March 31, 2024, as conveyed by a senior official from the finance ministry during a press briefing.
DIPAM secretary Tuhin Kanta Pandey says the transaction is ‘on course’ but there are aspects like the RBI s ‘fit and proper’ criteria which need to be complied with
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IREDA IPO consists of a fresh issue of up to 40.3 crore equity shares and an offer for sale (OFS) of up to 26.8 crore equity shares by the government. About 50% of the IPO will be available for allocation on a proportionate basis to qualified institutional buyers, 15% for non-institutional investors, and 35% for retail investors.