It is close to investing in IDBI from the final approval stage, for example government sources

And large government sources said in the field of “Today TV today”, as it entered the strategic investment of IDBI at the final approval phase, with the SPA purchase agreement from the intravenous group (IMG) received.

“IMG held two meetings recently agreed to the shares purchase agreement. It will now be consumed by the basic group of trustees on non -investment. After that, it is expected to invite financial bids, probably in the first week of September,” a senior official confirmed.

The shares purchase agreement is a legal binding document that defines the conditions and conditions according to which the company’s shares will be transferred from the seller to the buyer. In non -investment deals like this, the spa plays a decisive role in protecting the interests of both parties and determining the main sentences such as pricing, acting and opponents.

Once the health resort is cleared to the final level of approval, the financial bidding process will start officially. The reserve price will be determined for sale, although it will remain secret and unknown to offers providers.

According to the sources, a slight delay occurred early due to the clarifications requested by the three short offers of the resort’s draft. However, the government remains optimistic that the rest of the operation will continue smoothly. Use interest expressions (EOIS) were originally presented by potential buyers in January 2024.

Despite the continuous market fluctuations, officials remain confident that such “periodic issues” will not hinder the investment investment schedule. The government aims to conclude the sale of shares during the current fiscal year and expects to fill between 40,000 rupees and 50,000 rupees through the transaction.

The stock sale, which has faced frequent delays over the past three years, is seen as a decisive component in the broader disposal strategy of the center. While previous years included steadfast goals for investment, the government has now turned from solid goals.

Currently, the Union government and the Life Insurance Corporation in India (LIC) has 95 % of IDBI. From this, the 60.72 % share is offered for sale through the continuous non -investment process.