The finance ministry on Thursday extended the deadline for potential bidders to submit queries on IDBI Bank privatisation by 13 days till November 10.
The ministry on October 7 had floated the Preliminary Information Memorandum (PIM) inviting bids for selling about 61 per cent stake in IDBI Bank.
The deadline for raising queries and submission of bids by interested bidder was October 28 and December 16, respectively.
The Department of Investment and Public Asset Management (DIPAM) on Thursday issued a corrigendum to the PIM and extended the deadline for submission of queries till November 10.
The government is expecting to get the financial bids for IDBI Bank by March and complete the process of privatisation in the first half of next fiscal beginning April 2023.
After the stake sale, the government’s and LIC’s stake jointly will come down to 34 per cent, from currently 94.72 per cent.