IDBI Bank Shares Fall as Govt May Scrap Privatisation Process

IDBI Bank shares dropped over 15% (at the time of posting the post) after reports that the government may cancel its strategic stake sale due to bids coming below the reserve price. The Centre and LIC planned to sell about 60.7% stake, potentially worth ₹66,000 crore. Authorities may restart the sale later when market conditions improve.