te IDBI Bank up by 8% as divestment picks up | Zee Business

IDBI Bank up by 8% as divestment picks up

Vaibhav Vidwani, Research Analyst, Bonanza Portfolio said IDBI Bank will be strategically disinvested; hence the Central Government has requested bids to fill the position of asset valuer.

IDBI Bank up by 8% as divestment picks up
The deadline for submitting the proposals is October 9. Image Courtesy: Reuters

IDBI Bank shares were up by more than 8 per cent in trade on Tuesday as the divestment process picked up the pace. IDBI Bank shares were up 8 per cent at Rs 70.28 on BSE.

Vaibhav Vidwani, Research Analyst, Bonanza Portfolio said IDBI Bank will be strategically disinvested; hence the Central Government has requested bids to fill the position of asset valuer. The deadline for submitting the proposals is October 9.

The asset valuer will provide the bank's assets and liabilities' fair market value. The valuation will take into account the bank's investments, loans & advances, deposits, borrowings, and other obligation.

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Written By: IANS
Updated: Tue, Sep 05, 2023
04:41 pm
IANS
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