IDBI Bank share price jumps 20% amid flurry of OFS by GoI-owned stocks

IDBI Bank shares surged about 20% on Wednesday on reports that the Centre is exploring options to revive its long-pending privatisation. The government is evaluating whether to reconsider bids from Prem Watsa-led Fairfax Financial Holdings and Emirates NBD that were earlier rejected for falling short of the undisclosed reserve price, and is examining legal provisions under the tendering framework that could allow acceptance of such offers under certain circumstances. A senior official said all options remain under consideration, noting the privatisation process was never formally scrapped.