IDBI Bank Shares Tumble as India’s Planned Stake Sale Goes Awry

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By Ashutosh Joshi and Siddhi Nayak

March 16, 2026 at 6:01 AM UTC

IDBI Bank Ltd. shares slumped in Mumbai after the Indian government scrapped bids for a majority stake in the lender.

The stock fell as much as 16% in early Monday trading, its steepest intraday drop since June 2024. The divestment was halted after offers fell short of the minimum price sought, according to people familiar with the matter.