New Delhi: The government on Monday reviewed its disinvestment strategy, including the strategic sale, as weak investor interest and market volatility amid the West Asia war has cast a shadow over the proposed transaction, a person familiar with the matter said.
A core group of secretaries, headed by cabinet secretary TV Somanathan, deliberated on the way forward, the person said.
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The group is expected to soon decide on the revised valuation and timelines for the IDBI Bank sale.
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The transaction entered an uncertain phase in February as financial bids for the lender were lower than the floor price set by the government.
Officials are now careful not to repeat the mismatch between investor offers and the government valuation, and would endorse a valuation that is aligned with market realities.
Addressing an audience of corporate bosses and top officials at the ET Awards in Mumbai on Saturday, asserted that the strategic sale of IDBI Bank would take place. “There is no halting. It will happen,” she said.
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The government had budgeted a combined disinvestment and asset monetisation revenue of ₹80,000 crore for 2026-27, compared with ₹45,306 crore last fiscal, hoping to conclude the IDBI Bank transaction in the first half.
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