By Admin 
IDBI Share Falls: Amidst the ongoing tension in the Middle East, there was a tremendous rise in the Indian stock market on the first trading day of the week and BSE Sensex went up by almost 400 points. On the other hand, IDBI Bank shares registered a huge intraday fall of up to 16 percent during trading on Monday.
The main reason behind this is considered to be the alertness of investors due to the report related to the much awaited privatization process.
Shares fell 16 percent
At 1:17 pm on the National Stock Exchange of India, IDBI Bank shares fell by Rs 77.40 and fell by about 16.03 percent.
Actually, Government of India and Life Insurance Corporation of India had planned to sell their total 60.7 percent stake in IDBI Bank. With this move, the potential buyer will get management control and majority stake in the bank.
Investors are keeping a close eye on this privatization process. He believes that this can increase the value of the bank and improve its operations.
What is the fear of investors?
According to reports, the bids placed by potential buyers were below the reserve price set by the government. In such a situation, the fear has increased that the government may cancel the existing bidding process and start the process of selling the stake again with new conditions.
Due to this development, there is confusion among investors. For this reason, huge selling of this stock is being seen in the stock market and investors are assessing the privatization process.
The process started in 2022
The process of privatization of IDBI Bank started in the year 2022. This is part of the government’s strategy, under which it wants to reduce its stake in the banking sector.
At present, Life Insurance Corporation of India has 49.24 percent stake in the bank, while Government of India has 45.48 percent stake.
Also read: No matter how much Iran, Israel and America fight, India found this big way to escape.
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