EOI for strategic sale of IDBI likely within 3 weeks, say govt sources

The centre is likely to come out with expression of interest for the sale of IDBI Bank within 3 weeks, government sources tell Business Today TV.

"There has been no delay, these processes involve many regulatory approvals and take time," says a finance ministry official on condition of anonymity.

Government of India and LIC together own more than 94 per cent of equity in IDBI. LIC, which currently holds management stake in IDBI has 49.24 per cent stake, while Government of India, as a co-promoter owns 48.48 per cent.