Government Says Second IDBI Bank Bidding Round Added ₹3,917 Crore to Sale Value
What Happened
On October 29, 2026, India's Finance Ministry defended the bidding process for IDBI Bank's strategic sale, saying the reserve price was unchanged between two rounds. The ministry said the second round increased the bid value by ₹3,917 crore. It explained that the first bids were not approved and a government committee authorised a revised process for seeking final offers.
Key Takeaways
The government says the revised bidding process increased the value of the IDBI Bank stake sale without changing the reserve price. However, these explanations remain the government's account of the transaction.