IDBI Bank Limited — Others, 17-01-2025: News Verification

IDBI Bank has provided clarification regarding media reports about its shares climbing due to advancements in its divestment process. The bank referenced a Board meeting held on December 31, 2024, where it approved a proposal for Long Term Rupee Bond borrowings of up to ₹10,000 crore for FY 2024-25 and FY 2025-26. Additionally, provisional financial results for the quarter and nine months ended December 31, 2024, were disclosed earlier in January. The ongoing strategic disinvestment is being managed by DIPAM. This update could generate a positive outlook among investors, reflecting confidence in the bank's restructuring efforts.