IDBI Bank stock hits 52-week high, experts suggest to stay invested for further upside

IDBI Bank stock hits 52-week high, experts suggest to stay invested for further upside

The government and LIC together are looking to sell 60.72 percent in IDBI Bank and had invited bids from potential buyers in October. The last date for submitting Expression of Interest (EoI) or preliminary bids was set at December 16, which was later extended to January 7.





January 09, 2023 / 12:07 PM IST





IDBI Bank



Shares of IDBI Bank hit 52-week high on January 9 after a report suggested that Emirates NBD & Prem Watsa-led Fairfax Group may join IDBI Bank race for a majority stake in the lender.

The government and LIC together are looking to sell 60.72 percent in IDBI Bank and had invited bids from potential buyers in October. The last date for submitting Expression of Interest (EoI) or preliminary bids was set at December 16, which was later extended to January 7.

Also Read: Govt gets multiple bids for disinvestment of stake in IDBI Bank

Middle East banking powerhouse Emirates NBD and billionaire Prem Watsa-led Canada’s Fairfax Group are likely to have submitted EOI’s or expressions of interest earlier this week for a majority stake in IDBI Bank, multiple sources in the government and the industry familiar with the development told Moneycontrol.

“Emirates NBD and Fairfax Group are