The stock of IDBI Bank Ltd. fell the most since at least June 2024 after reports that the government has decided to scrap its stake-sale plans due to lacklustre bidding.
On Monday (16 March 2026), IDBI Bank's share price fell as much as 16.48% to an intraday low of ₹77.00 apiece on the BSE even as the benchmark S&P BSE Sensex remained largely flat.
The government is set to scrap the bids it received for a majority stake in IDBI Bank Ltd. as the amounts were below the minimum price sought, Bloomberg News reported, citing people with knowledge of the matter.
IDBI Bank is not in a position to either confirm or deny the referenced news report, the lender said in an exchange filing today.
The 61% stake that the government and Life Insurance Corp. of India planned to sell in the private lender is worth about $6.5 billion at the current market price.
