People watching the stock market index on the facade of the Bombay Stock Exchange building in Mumbai. Photo: AP
People watching the stock market index on the facade of the Bombay Stock Exchange building in Mumbai. Photo: AP

India seeks US$7.7 billion value for IDBI Bank stake as Modi struggles to meet target from asset sales

  • India’s government has achieved about one-third of its target of raising 650 billion rupees from asset sales to replenish state coffers
  • The finance ministry earlier this month invited bids for its 60.72 per cent stake in the Mumbai-based lender

People watching the stock market index on the facade of the Bombay Stock Exchange building in Mumbai. Photo: AP
People watching the stock market index on the facade of the Bombay Stock Exchange building in Mumbai. Photo: AP
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