IDBI

IDBI Bank sale moves forward: Govt panel to meet, review share purchase agreement

A key government panel is expected to meet on Monday to take forward the divestment process of private sector lender IDBI Bank, sources told CNBC TV18. The report further maintained that the panel may deliberate on the Share Purchase Agreement (SPA), which is central to the proposed strategic sale. According to sources who talked to the publication, the Inter-Ministerial Group (IMG) will review the SPA and other related matters. Post this, Core Group of Secretaries on disinvestment will vet the proposal before it is sent to the ministerial panel for final approval.