IDBI

March 21 (Reuters) - IDBI Bank Ltd IDBI.NS:

• RBI: RESERVE BANK OF INDIA HAS IMPOSED MONETARY PENALTY OF 3.6 MILLION RUPEES ON IDBI BANK

• RBI: PENALTY ON IDBI BANK FOR NOT UNDERTAKING DUE DILIGENCE WHILE PROCESSING INWARD REMITTANCES FROM A FOREIGN CURRENCY ACCOUNT

Source text: [ID:]

Further company coverage: IDBI.NS

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Feb 18 (Reuters) - IDBI Bank Ltd IDBI.NS:

• FINED 1.2 MILLION RUPEES BY EXCISE AND TAXATION OFFICER

Source text: ID:nBSE4ftBXX

Further company coverage: IDBI.NS

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Feb 5 (Reuters) - IDBI Bank Ltd IDBI.NS:

• IDBI BANK LTD - IMPOSED TAX PENALTY OF 3.7 MILLION RUPEES

Source text: ID:nNSE7RCCdf

Further company coverage: IDBI.NS

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By Nikunj Ohri and Sarita Chaganti Singh

NEW DELHI, Jan 27 (Reuters) - Indian Prime Minister Narendra Modi is pouring billions into ailing state-run firms after slowing ambitious divestment plans that were intended to reduce the role of the state in business, according to government sources and a document reviewed by Reuters.

Less than a month into 2025, New Delhi has plans to invest about $1.5 billion in financial rescue packages for two state-owned firms after failing to sell them to private companies.

It has also decided to put in "abeyance" privatisation of at least nine state-owned units after opposition from relevant ministries, according to a document that detailed recommendations of a government panel set up to identify privatisation candidates. The document, reviewed by Reuters, did not cite reasons for the decision.

The nine companies include Madras Fertilizers MDFT.NS, Fertilizer Corp of India, MMTC MMTC.NS and NBCC (India) NBCC.NS, the document showed.

Housing and Urban Development Corp HUDC.NS, that was also identified for privatisation, has now been 'exempted' implying it will not be sold, according to the document.

Among the state-owned companies being revived with government funding is helicopter operator Pawan Hans.

The government is planning to infuse around $230 million-$350 million in Pawan Hans to modernise its aging fleet of helicopters after four failed attempts to sell the company, two government sources said.

The amount of infusion is still being finalised as the options being considered for fleet modernisation include both outright acquisition and leasing, one of the sources said.

The sources declined to be identified because of the sensitivity of the issue.

India's finance and civil aviation ministries did not immediately reply to e-mails seeking comment on the privatisation plans or on the Pawan Hans investment.

The fund infusion in Pawan Hans and plans to halt the privatisation of nine firms have not been previously reported.

In 2021, Modi's government announced a major programme to privatise most of India's state-run companies. The plan was so drastic that even in the four sectors that India sees as sensitive, such as telecoms and banking, it wanted to keep only a minimum presence, while exiting from all other sectors.

But now it is planning rescue and revival plans for companies even outside the sensitive sectors.

Last week, the government announced a $1.3 billion plan to revive debt-laden steel producer Rashtriya Ispat Nigam Ltd (RINL).

The government has also allocated 80 billion rupees in 2024/25 for bond repayments of state-run telco MTNL that has seen a series of defaults lately, according to budget documents for the current year.

PRIVATISATION SLOWDOWN

Four years since the privatisation policy was announced, the Modi government has had only three successes, out of which Air India's sale to the Tata Group was the largest. The other two were indirect holdings in steel-maker Neelachal Ispat Nigam Ltd to Tata Steel TISC.NS and Ferro Scrap Nigam to Konoike Transport Co 9025.T.

Other large sales have either been deferred or delayed.

The U-turn in policy was partly driven by the expectation that some large state-owned firms could be overhauled and made more profitable, helping the government earn dividend income, Reuters has reported previously.

Political pressures on Modi have increased after he came back to power in mid-2024 only with the help of regional allies, making it more difficult to overcome opposition to privatisation by employee unions fearing job losses.

The sale of state refiner Bharat Petroleum Corp BPCL.NS was rolled back in 2022 after failing to get suitors. The ongoing privatisation of Shipping Corp of India SCI.NS and BEML BEML.NS has been stuck for years due to complications over transfer of land holdings. The government has also been dragging its feet on the sale of a majority stake in IDBI Bank IDBI.NS.

In previous years, privatisation formed an important part of the government’s plan to reduce its budget gap. But with the federal fiscal deficit seen falling to a more comfortable 4.9% of GDP in the 2024-25 year, the fiscal push for divestment has waned.

New Delhi is expected to miss its internal stake sale target of 180 billion to 200 billion rupees in 2024-25 (April-March) for the sixth straight year. As of January, government has mopped up 86.25 billion rupees via stake sales in 2024/25.

($1 = 86.4250 Indian rupees)

(Reporting by Nikunj Ohri and Sarita Chaganti Singh; Editing by Ira Dugal and Raju Gopalakrishnan)

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Jan 23 (Reuters) - IDBI Bank Ltd IDBI.NS:

• RE-APPOINTS RAKESH SHARMA AS MD & CEO FOR THREE YEARS

Source text: ID:nBSE1MScHs

Further company coverage: IDBI.NS

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Corrects paragraph 4 to say Go First filed for bankruptcy in May 2023, not May last year

Jan 20 (Reuters) - An Indian tribunal has ordered the liquidation of Go First Airways after a request from the cash-strapped airline's lenders, CNBC-TV18 reported on Monday.

Go First Airways did not immediately respond to a Reuters request for comment.

In August, Go First's lenders had decided to liquidate the company's assets after rejecting bids by interested suitors to revive the bankrupt airline, Reuters had reported, citing sources.

Go First had filed for bankruptcy in May 2023 and received two financial bids under the bankruptcy process, with one of them raising their offer after a push by lenders.

The budget carrier owes a total of 65.21 billion rupees ($781.14 million) to its creditors, which include Central Bank of India CBI.NS, Bank of Baroda BOB.NS, IDBI Bank IDBI.NS and Deutsche Bank DBKGn.DE.

Foreign aircraft lessors of Go First were locked in a tussle with the company after they were blocked from repossessing planes due to a moratorium imposed by Indian courts. However, a local court, in April, allowed them to take back their planes.

(Reporting by Kashish Tandon in Bengaluru; Editing by Savio D'Souza)

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MUMBAI, Jan 18 (Reuters) - India will likely cut its disinvestment and asset monetisation target by 40% for 2024-25 in the federal budget to be presented next month, The Economic Times newspaper reported on Saturday, as planned sales of state-run firms run into a host of setbacks.

The government will likely revise the target to less than 300 billion rupees ($3.47 billion) from the initial 500 billion rupees, the newspaper said, citing people aware of the deliberations.

The government may set the target at about 450 billion rupees to 500 billion rupees for the next fiscal year, as it intends to conclude the IDBI Bank IDBI.NS transaction and step up its asset monetisation bid, the report said.

The Finance Ministry did not immediately respond to a Reuters' email seeking comment.

The Indian government, which owns 45.48% in IDBI Bank, and state-owned Life Insurance Corp of India LIFI.NS which holds 49.24%, together plan to sell 60.7% of the lender. The sale process was first announced in 2022.

Prime Minister Narendra Modi's administration moved from the usual practise of setting a stake sale target in its budget presented last year.

Modi's ambition of privatising state-run firms has taken a back seat due to regulatory hurdles, complex decision-making, political considerations and valuation issues, but his government has delivered more stake sales than any previous administration.

The government has raised 86.25 billion rupees from disinvestments so far in this fiscal year.

The government will continue to reduce its stakes in some entities via the offer-for-sale route, the report added.

($1 = 86.5710 Indian rupees)

(Reporting by Siddhi Nayak; Editing by Kim Coghill)

(([email protected]; +91 22 6921 7848; Reuters Messaging: X: https://twitter.com/siddhiVnayak))

Jan 17 (Reuters) - IDBI Bank Ltd IDBI.NS:

• IDBI BANK - STRATEGIC DISINVESTMENT OF BANK IS IN PROCESS, ENTIRELY HANDLED BY DIPAM

Source text: [ID:]

Further company coverage: IDBI.NS

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** IDBI Bank IDBI.NS rises 7.7% to 79.4 rupees

** Divestment process at IDBI progressed to next stage, with consultancy firm KPMG conducting closing due diligence, Moneycontrol reports

** Financial bids will be invited once diligence is finalised, which as per the report, may happen by March-end

** Post completion, Department Of Investment and Public Assets Management (DIPAM) will ask interested investors to furnish bids to acquire stake in the lender, being sold by the Indian government

** IDBI did not immediately respond to Reuters' request for comment

** More than 41.5 mln shares traded, 6.3x the 30-day avg

** Stock rose ~14% in 2024

(Reporting by Ashna Teresa Britto in Bengaluru)

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Dec 20 (Reuters) - IDBI Bank Ltd IDBI.NS:

• IDBI BANK LTD - TO CONSIDER LONG TERM RUPEE BOND BORROWINGS UP TO 100 BILLION

Source text: ID:nBSEQ8263

Further company coverage: IDBI.NS

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Moves position of 'to India' in paragraph 7, no other changes

By Rishika Sadam and Siddhi Nayak

Nov 28 (Reuters) - Indian banks are reviewing their Adani exposure and whether they need to tighten due diligence, eight bankers said on Thursday, after the group's billionaire founder Gautam Adani was indicted by U.S. authorities over an alleged $265 million bribery scheme.

Adani Group's listed stocks, which at one point saw as much as $34 billion wiped off their market value, meanwhile recovered ground as some partners and investors rallied behind it.

State Bank of India SBI.NS will not stop lending to ongoing Adani projects that are nearing completion, two sources told Reuters, but will exercise caution when disbursing loans to ensure all terms and conditions are being met.

Bank of India BOI.NS, Union Bank UNBK.NS, ICICI Bank ICBK.NS, Canara Bank CNBK.NS, IDBI Bank IDBI.NS and RBL Bank RATB.NS, which have relatively smaller exposures to the Adani Group, are undertaking similar exercises, sources said.

A regulatory source aware of the development said from a banking system perspective that no entity was over-exposed to the Adani group and there was no cause for concern.

Earlier on Thursday, Israel said it wants Adani Group to continue to invest there, adding that the U.S. allegations were not "problematic" from its perspective.

"We wish Adani and all Indian companies continue to invest in Israel," Israel's Ambassador to India Reuven Azar told Reuters in an interview.

The Adani Group holds a 70% stake in Haifa port in northern Israel and is involved in projects with Israeli firms, including manufacturing military drones and commercial semiconductors.

Adani and seven others are accused by U.S. authorities of being part of a scheme to pay bribes to secure Indian power supply contracts. The Adani Group has denied the allegations.

The Indian ports-to-power conglomerate has also received public backing from Abu Dhabi's International Holding IHC.AD, which maintained its outlook on investments in the group.

"Our partnership with the Adani Group reflects our confidence in their contributions to the green energy and sustainability sectors," IHC said on Wednesday, adding that it "continues to evaluate relevant information and developments".

IHC, which is one of Adani's key foreign investors, boosted its stake in the group's Adani Enterprises ADEL.NS flagship to more than 5% last year after selling down investments in Adani Green Energy ADNA.NS and Adani Energy Solutions ADAI.NS.

Shares in Adani Green, the company at the centre of the bribery allegations, rose by 10% on Thursday, hitting the cap on gains in a single session for a second consecutive day, with Adani Energy also up the maximum 10%.

The total losses in the value of Adani Group's 10 listed companies have narrowed to $14.5 billion from about $34 billion, the low reached on Tuesday after the U.S. indictments.

FALLOUT

Global investors say worries of a wider spillover from the Adani allegations will hurt sentiment in India, but not the long-term outlook, as they wager one of the world's best-performing markets will get back on track next year.

Investors expect a stronger spotlight on governance and disclosure, and perhaps some volatility, but say the affair has not challenged the reasons they are in India in the first place - for exposure to a growing economy and a huge consumer market.

Indian Prime Minister Narendra Modi's government has not commented on the allegations against the Adani Group and has blocked opposition party demands for a debate on them.

Both houses of India's parliament were suspended temporarily within minutes of opening on Thursday as opposition lawmakers disrupted proceedings for the third day over the issue.

Many opposition parties accuse Modi and his Bharatiya Janata Party (BJP) of favouring Gautam Adani and blocking investigations against him, charges which both have denied.

The Adani Group, which is among India's biggest business empires, has been under scrutiny since January 2023 short seller Hindenburg Research accused it of stock manipulation, which the group has denied, and questioned its high debt levels.

Adani Green said on Wednesday that Adani had been charged by U.S. Securities and Exchange Commission (SEC) for alleged violations of securities law and faced potential fines but had not been charged under the U.S. Foreign Corrupt Practices Act.

The civil action launched by the SEC runs in parallel to U.S. federal prosecutors' indictment against Adani and others.

Repercussions from the indictment have mounted for the Adani Group over the past week, with credit ratings agencies cutting the outlook for some of the listed companies' bonds.

French oil major TotalEnergies TTEF.PA, said on Monday it would not make any more investments in the Adani Group until there was clarity over the allegations and consequences. Total has a 20% stake in Adani Green.

Kenya has scrapped a $2 billion procurement project that was to give Adani control of the country's main airport and it shelved a 30-year, $736-million public-private partnership, signed by Adani Energy with its energy ministry in October.

Closer to home, Sri Lanka said it would investigate all Adani-related projects in the island nation, while Bangladesh is investigating power generation contracts signed under the previous prime minister, one of which was with Adani Power.

(Reporting by Hadeel Al Sayegh in Dubai, Shilpa Jamkhandikar in Mumbai and Nigam Prusty in New Delhi; Writing by Scott Murdoch, Chris Thomas; Editing by Alexander Smith)

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Oct 25 (Reuters) - IDBI Bank Ltd IDBI.NS:

• Q2 NET PROFIT 18.36 BILLION RUPEES

• Q2 GROSS NPA 3.68%

• Q2 INTEREST EARNED 74.42 BILLION RUPEES

• Q2 NET NPA 0.20%

• Q2 PROVISIONS AND CONTINGENCIES 5.55 BILLION RUPEES

Source text for Eikon: ID:nnAPN2C0S5C

Further company coverage: IDBI.NS

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Oct 8 (Reuters) - India's markets regulator has approved an initial public offering by National Securities Depository Ltd (NSDL) more than a year after the company filed draft papers, a regulatory notice showed late on Monday.

NSDL, which handles most of the securities held and settled in dematerialised form in the Indian capital market, had filed for an IPO in July 2023, but the Securities and Exchange Board of India (SEBI) put the offering on hold a month later.

Shareholders, including IDBI Bank IDBI.NS, National Stock Exchange of India and HDFC Bank HDBK.NS, are looking to sell a combined 57.3 million shares in the IPO. NSDL is not selling new shares in the offering.

NSDL will become the second depository services firm to list in India. Shares of peer Central Depository Services Ltd CENA.NS have risen more than 10-fold since its 2017 listing.

(Reporting by Chris Thomas in Bengaluru; Editing by Mrigank Dhaniwala)

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Oct 4 (Reuters) - IDBI Bank Ltd IDBI.NS:

• TOTAL BUSINESS UP 15% Y/Y AS OF SEPT 30

• TOTAL DEPOSITS AS OF SEPT 30 UP 11% Y/Y

• NET ADVANCES AS OF SEPT 30 UP 19% Y/Y

Source text for Eikon: ID:nNSE47Z4LQ

Further company coverage: IDBI.NS

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By Siddhi Nayak

MUMBAI, Aug 13 (Reuters) - State Bank of India (SBI), the country's largest lender, aims to strike a deal by end-March for the sale of its 24% stake worth 184.2 billion rupees ($2.2 billion) currently in smaller rival Yes Bank YESB.NS, four sources with direct knowledge said.

Japanese lender Sumitomo Mitsui Banking Corp and Dubai-based Emirates NBD ENBD.DU are in advanced talks to acquire a majority stake in Yes Bank, two of these sources said. Sumitomo Mitsui is a unit of Sumitomo Mitsui Financial Group 8316.T, Japan's second-biggest bank.

"Both the bidders are interested in acquiring a majority 51% stake in Yes Bank to get sizeable control of the bank's business," one of the sources said. "The Reserve Bank of India (RBI) has verbally okayed the proposal and due diligence is on."

Yes Bank was restructured by the RBI in March 2020 with the help of a consortium of local banks after its financial health deteriorated.

SBI currently holds about 24% in Yes Bank while 11 other lenders, including ICICI Bank ICBK.NS and HDFC Bank HDBK.NS, who were also involved in Yes Bank's rescue, together hold 9.74%.

Two private equity funds - CA Basque Investments and Verventa Holdings - collectively hold another 16.05%. The remainder is with some other investors and with the public.

"Bidders are seeking relaxation on the regulatory requirement that promoter shareholding be brought down to 26% within 15 years of the investment, and talks are on," said one of the sources, referring to the stake by controlling shareholders.

The sources did not wish to be identified as they are not authorised to speak with the media.

SBI said it categorically denies any development in this matter.

In a response to Reuters' query, Yes Bank said it had "no comments to offer regarding (the) stake sale as these inquiries are speculative in nature."

RBI and Emirates NBD, Dubai's biggest bank, did not immediately respond to Reuters' emails seeking comment. Sumitomo Mitsui Banking Corp said it will not comment on "individual deals".

Other media earlier reported the interest of Japanese and Middle Eastern lenders in acquiring SBI's stake in Yes Bank.

SBI has already received RBI's verbal approval to divest its whole stake in Yes Bank, one of the sources said, adding that SBI is expecting to make a profit of around 100 billion rupees.

"SBI had rescued Yes Bank when there was a liquidity crunch, but now that things have turned around, it is prudent to exit," this person said.

Once RBI approves the bidders, the process should happen quickly and SBI will have a chance to negotiate valuation, etc., with the bidders, two of the sources said.

At the current market price of 24.60 rupees, Yes Bank is valued at 770.95 billion rupees.

Talks could be delayed due to volatility in the Japanese market and a parallel government stake sale process in IDBI Bank IDBI.NS, a fifth person familiar with the process said.

Emirates NBD, one of the potential bidders for Yes Bank, has also expressed interest in buying private lender IDBI Bank and prefers waiting till that process is concluded, the source added.

($1 = 83.9600 Indian rupees)

(Reporting by Siddhi Nayak; Additional reporting by Ira Dugal in Mumbai and Miho Uranaka in Tokyo; Editing by Muralikumar Anantharaman)

(([email protected]; +91 22 6921 7848; Reuters Messaging: X: https://twitter.com/siddhiVnayak))

By Siddhi Nayak

MUMBAI, Aug 5 (Reuters) - Lenders to India's Go First have decided to liquidate the company's assets after rejecting bids by interested suitors to revive the bankrupt airline, two banking sources said.

Go First, which filed for bankruptcy in May last year, had received two financial bids under the bankruptcy process.

The Committee of Creditors has voted in favour of liquidating the airline, the bankers said.

Liquidation "is the best way forward" and "it makes no sense to keep pumping in more money" to cover costs related to the insolvency process, one of the bankers said.

Emails seeking comments to Go First's resolution professional, who conducts the bankruptcy process, did not immediately get a response.

The bankers did not wish to be identified because they were not authorised to speak with the media.

Reuters had earlier reported that one of the two bidders had raised its offer after a push by lenders.

"Bidders were given adequate time to review and raise their bids, but even that fell short of lenders' expectations," the first banker said.

The liquidation process will commence once all legal formalities are completed, the second banker said.

Go First owes a total of 65.21 billion rupees ($781.14 million) to its creditors, which include Central Bank of India CBI.NS, Bank of Baroda BOB.NS, IDBI Bank IDBI.NS and Deutsche Bank DBKGn.DE.

Foreign aircraft lessors of Go First were locked in a tussle with the company after they were blocked from repossessing planes due to a moratorium imposed by Indian courts. However, a local court, in April, allowed lessors to take back their planes.

"The court order was a major deterrent for bidders as there was no value left in the airline," the second banker said.

($1 = 83.4810 Indian rupees)

(Reporting by Siddhi Nayak; Editing by Muralikumar Anantharaman)

(([email protected]; +91 22 6921 7848; X: https://twitter.com/siddhiVnayak))

Aug 2 (Reuters) - NTPC Ltd NTPC.NS:

• INDIA'S DIVESTMENT SECY- DIVESTMENT IS NOT WHOLE FOCUS OF PUBLIC ASSET MANAGEMENT

• INDIA'S DIVESTMENT SECY- NTPC GREEN ENERGY COULD COME TO MARKET THIS YEAR

• INDIA'S DIVESTMENT SECY- FINANCIAL BIDS FOR IDBI BANK EXPECTED THIS FISCAL

• INDIA'S DIVESTMENT SECY- IDBI BANK'S DIVESTMENT COULD SPILLOVER TO NEXT YEAR

Source text for Eikon: [ID:]

Further company coverage: NTPC.NS

(([email protected];))

By Siddhi Nayak and Nikunj Ohri

MUMBAI/NEW DELHI, Aug 1 (Reuters) - The Reserve Bank of India has completed its review of potential buyers for a majority stake in IDBI Bank IDBI.NS, approving Fairfax Financial Holdings, Emirates NBD and Kotak Mahindra Bank KTKM.NS as bidders, three sources aware of the development said on Thursday.

The Indian government, which owns 45.48% in IDBI Bank, and state-owned Life Insurance Corp of India LIFI.NS which holds 49.24%, together plan to sell 60.7% of the lender. The sale process was first announced in 2022.

The sources did not wish to be identified as the discussions are not public. The finance ministry, RBI, Fairfax Financial Holdings, Emirates NBD and Kotak Mahindra Bank did not immediately reply to Reuters emails seeking comments.

The bidders are talking to the Indian government and will get access to IDBI Bank's private data after evaluation, one of the sources said.

Reuters had earlier reported interested buyers include Emirates NBD and Canadian billionaire Prem Watsa.

Toronto-based Fairfax India Holdings is backed by Canadian billionaire Prem Watsa and invests in public as well as private equity securities and debt instruments in India.

Emirates NBD Group offers financial services with operations in UAE, India and Saudi Arabia, among others.

The government would likely open bids for the lender before the end of the financial year, Tuhin Kanta Pandey, the country's secretary responsible for the stake sale, had said last week.

(Reporting by Siddhi Nayak in Mumbai and Nikunj Ohri in New Delhi; Editing by Nivedita Bhattacharjee)

(([email protected]; +91 22 6921 7848; Twitter: https://twitter.com/siddhiVnayak))

July 26 (Reuters) -

• INDIA'S RBI HAS INDICATED COMPLETION OF ITS "FIT AND PROPER" VETTING OF POTENTIAL BIDDERS OF IDBI BANK - DIVESTMENT SECRETARY

• INDIAN GOVERNMENT TO ALLOW POTENTIAL BIDDERS TO ACCESS IDBI BANK'S PRIVATE DATA IN EARLY AUGUST - DIVESTMENT SECRETARY

• INDIA GOVERNMENT PLANS TO INVITE FINANCIAL BIDS FOR IDBI BANK MAJORITY STAKE SALE BEFORE END OF FY25- DIVESTMENT SECRETARY

Further company coverage: IDBI.NS

(([email protected];))

** Shares of IDBI Bank IDBI.NS rise 2.7% to 100.1 rupees, its highest price since July 10, 2014

** Almost 7.3 mln shares change hands in 11 blocks - LSEG data

** 10 blocks sold between 98.30 rupees and 103.07 rupees per share, a 0.8%-5.7% premium to Wednesday's closing price; one block sold at a 2.5% discount - LSEG data

** IDBI stock had risen on Wednesday on report that stake sale in the lender is at an advanced stage

** It had also climbed on Monday on strong Q1 earnings

** Stock up ~11% so far this week, set for largest weekly climb since late Jan.

(Reporting by Varun Vyas in Bengaluru)

(([email protected]))

** Shares of India's IDBI Bank IDBI.NS rise 4% to 89.87 rupees after jumping as much as 5.2% earlier in the day

** Reserve Bank of India's vetting process to ascertain potential bidders for stake sale in lender is at an advanced stage, Moneycontrol reported

** IDBI did not immediately respond to Reuters' request for comment

** India government owns 45.5% stake in IDBI, insurer LIC LIFI.NS holds 49.24% stake - exchange data

** Government, LIFI together plan to offload 60.7% stake, report says

** Trading vols 1.4x 30-day avg

** YTD stock had risen 34%

(Reporting by Hritam Mukherjee in Bengaluru)

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July 22 (Reuters) - IDBI Bank Ltd IDBI.NS:

• IDBI BANK LTD - Q1 NIM AT 4.18%

Source text for Eikon: ID:nBSE3JMyLb

Further company coverage: IDBI.NS

(([email protected];))

** Shares of lender IDBI Bank IDBI.NS up 5.7% at 92.86 rupees, their highest levels since early-June

** The Indian government's sale of its majority stake in IDBI to happen after an assessment report by the Reserve Bank of India (RBI), as per a Times of India report

** The central bank's vetting of bidders will be watched in the union budget, due on July 23, as markets await signals on divestment, the report says

** IDBI did not immediately respond to a Reuters request for comment

** Stock up ~39% YTD

(Reporting by Manvi Pant in Bengaluru)

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July 4 (Reuters) - IDBI Bank Ltd IDBI.NS:

• TOTAL DEPOSITS UP 13% Y/Y AS OF JUNE-END

• NET ADVANCES UP 17% Y/Y AS OF JUNE-END

Further company coverage: IDBI.NS

(([email protected];))

** Shares of India's IDBI Bank IDBI.NS rise as much as 5.2% to 90 rupees

** Bank on Friday said it received income tax refund of 27.02 bln rupees (nearly $12 mln)

** Stock set to gain for a fourth consecutive session if trend holds

** Stock extends YTD gains to ~30%, compared to ~14.5% rise in small-cap index .NIFSMCP100 - LSEG data

($1 = 83.4900 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru)

(([email protected];))

June 7 (Reuters) - IDBI Bank Ltd IDBI.NS:

• IDBI BANK LTD - BANK GETS ORDER FROM THE INCOME TAX DEPARTMENT, GOVERNMENT OF INDIA

• IDBI BANK- AS PER ORDER FROM THE INCOME TAX DEPARTMENT REFUND OF 27.02 BILLION RUPEES HAS BEEN DETERMINED

• IDBI BANK LTD - BANK IS IN PROCESS OF EVALUATING IMPLICATIONS OF THIS ORDER ON FINANCIAL STATEMENTS

Source text for Eikon: ID:nBSE6l14F6

Further company coverage: IDBI.NS

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Updates with fresh comments from Sky One in paragraphs 8-9

By Siddhi Nayak

MUMBAI, April 30 (Reuters) - Lenders to India's Go First will meet this week to discuss options for the bankrupt airline, including liquidation, after a court order allowed lessors to take back their planes, two bankers with Go First's creditors said on Tuesday.

"There is no value left in the airline after the court order and chances of revival seem very grim," one of the bankers said.

Go First's resolution professional did not immediately respond to a Reuters' email seeking comment.

The airline owes a total of 65.21 billion rupees ($780.88 million) to its creditors, which include Central Bank of India CBI.NS, Bank of Baroda BOB.NS, IDBI Bank IDBI.NS and Deutsche Bank DBKGn.DE.

The Committee of Creditors (CoC) met on Monday and another meeting is scheduled for Thursday, both sources said.

The two bankers did not wish to be identified because they are not authorised to speak with the media.

Go First has received two bids under the formal bankruptcy process - one from a consortium which includes budget carrier SpiceJet's managing director Ajay Singh and Busy Bee Airways, and the second from Sharjah-based Sky One, Reuters previously reported.

Sky One's Chairman Jaideep Mirchandani said that despite the deregistration of leased planes, the company was prepared to bring in their own assets and resources to revive the airline, if its bid was successful.

"Our extensive experience as lessors and our comprehensive portfolio of aviation services uniquely position us to address the challenges and opportunities presented by Go First's situation," Mirchandani said in an emailed response to Reuters.

Ajay Singh and Busy Bee's majority shareholder Nishant Pitti did not respond to emails seeking comment.

Lenders may still choose to reject the bids on the table as they are not happy with the sums offered currently by both applicants, the second banker said.

The bids include the value of a piece of land offered as collateral by the airline's promoters, the banker said.

Reuters had earlier reported that lenders had sought higher bids.

While liquidation seems to be the most viable option under the present circumstances, it will be put to a vote once the committee formally rejects the two offers or if the applicants back out, both the bankers said.

($1 = 83.5080 Indian rupees)

(Reporting by Siddhi Nayak; Editing by Sonali Paul and Emelia Sithole-Matarise)

(([email protected]; +91 22 6921 7848; Reuters Messaging: Twitter: https://twitter.com/siddhiVnayak))

April 24 (Reuters) - IDBI Bank Ltd IDBI.NS:

• IDBI BANK - 30.1 MILLION RUPEES PENALTY IMPOSED ON CO BY TAX AUTHORITY

Source text for Eikon: ID:nNSE3WFyY2

Further company coverage: IDBI.NS

(([email protected];))

April 16 (Reuters) - IDBI Bank Ltd IDBI.NS:

• PENALTY OF 2.2 MILLION RUPEES IMPOSED ON BANK BY ADDITIONAL COMMISSIONER OF STATE TAX

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By Siddhi Nayak

MUMBAI, March 19 (Reuters) - One of the two bidders for bankrupt Indian airline Go First has raised its offer following a nudge from lenders, two banking sources and a person aware of the development said on Tuesday.

The consortium, which includes budget carrier SpiceJet's SPJT.BO managing director Ajay Singh and Busy Bee Airways, increased the bid amount between 1 billion rupees ($12.06 million) and 1.5 billion rupees, one of the sources said. The original bid amount stood at 16 billion rupees.

The sources did not wish to be identified as they were not authorised to speak to the media.

Emails seeking comments from Reuters to Go First's resolution professional, who conducts the bankruptcy process, Singh, Spicejet and Busy Bee majority shareholder Nishant Pitti did not immediately get a response.

Pitti is the CEO of online travel platform EaseMyTrip EASM.NS.

Go First, which filed for bankruptcy in May last year, received two financial bids as part of its bankruptcy process, the second being Sharjah-based Sky One Airways, Reuters had reported.

"The bid amount in both the offers was far below the expectations of the Committee of Creditors (CoC) and would involve a deep haircut, which is why both the bidders were asked to revise their offer upwards," a banker with a state-run bank that has exposure to Go First said.

Its bankruptcy filing lists Central Bank of India CBI.NS, Bank of Baroda BOB.NS, IDBI Bank IDBI.NS and Deutsche Bank DBKGn.DE among creditors to which it owes a total of 65.21 billion rupees.

The CoC, through the resolution professional, are in talks with Sky One, the banker added. Sky One Airways did not immediately respond to a request for comment.

Singh and Busy Bee's joint bid will be discussed in the next CoC meeting that is likely to be held early next week, the second banker said.

Lenders are expected to revert to the bidders by March 28, this banker added.

($1 = 82.9350 Indian rupees)

(Reporting by Siddhi Nayak; Editing by Janane Venkatraman )

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