Govt in talks with PE firms for IDBI Bank stake sale

The Indian Government is looking to kickstart the privatisation of publicly listed IDBI Bank this month, with its advisor KPMG reaching out to multiple suitors - including large private equity buyout funds and long-only funds. For the moment, the government is open to selling its entire 94.71% stake. This includes LIC's 49.24% equity stake, which comes with management control. The central government holds another 45.48%.