Announced Tue, 14 Jul · 18:45 IST
IDBI Bank says no update on Fairfax Financial disinvestment deal
IDBI · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-0.9%1-day move
₹86.36
prior close
₹87.50
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-0.2+0.7+1.0+0.7-0.9+0.7-1.4+0.4-0.4-1.9————
Up moveDown movePending
AI summary
IDBI Bank told NSE it cannot confirm or deny a media report saying the government is close to accepting a sweetened Fairfax Financial offer for the bank. The bank said the strategic disinvestment is a confidential government process and it has no role in negotiations. It stated it has received no communication from the government on finalising any deal. The disinvestment involves sale of 60.72 percent stake (government 30.48 percent and LIC 30.24 percent).
Likely market impact
Stock may stay volatile as Fairfax Financial disinvestment news remains unconfirmed. Investors should wait for an official government announcement.