IDBI Bank Shares Drop as Government May Scrap Majority Stake Sale Due to Low Bids

Shares of IDBI Bank fell sharply, dropping up to 15 percent on March 16, 2026, following reports that the Indian government may scrap its planned sale of a majority stake. The government and Life Insurance Corporation of India (LIC) had sought to sell a combined 60.72 percent stake, but bids received were reportedly below the reserve price set by the government. Potential buyers included Fairfax Financial and Emirates NBD. The government may consider reopening the sale process if market conditions improve.