Govt turns down bid for IDBI Bank, invites fresh RFP
Denied the bid process for appointment of asset valuer for strategic sale-bound IDBI Bank on low bidder interest
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New Delhi: The government on Tuesday cancelled the bid process for the appointment of an asset valuer for strategic sale-bound IDBI Bank on low bidder interest. A fresh Request For Proposal (RFP) would be invited soon after a review of some of the bid criteria to enable better interest from bidders. “It has been decided with the approval of the competent authority to cancel the present RFP and to issue a fresh RFP for selection of an asset valuer for strategic disinvestment of IDBI Bank Ltd,” DIPAM said in a corrigendum.
“We had only a single bid. A fresh RFP will be issued soon after we review some of the criteria to enable better interest from bidders,” a government official said. The government, along with LIC, is selling nearly 61 per cent stake in IDBI Bank and in January received multiple EoIs for the same.
