IDBI Bank Shares Drop as Government May Scrap Majority Stake Sale Over 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 due to bids falling below the reserve price. The government and Life Insurance Corporation of India had sought to divest a combined 60.7 percent stake, but financial bids, including those from Fairfax Financial and Emirates NBD, reportedly did not meet expectations. The government may consider reopening the sale process if market conditions improve.