Shares of IDBI Bank plunged over 4% to the day’s low of Rs 59.50 on the NSE on Wednesday following the news of the cancellation of bidding process to hire an asset valuer for government’s planned share sale in the lender. The government on Tuesday cancelled the bidding process to hire an asset valuer, Reuters reported.The price action was accompanied with volume action as nearly 65 lakh shares changed hands on the NSE around 10 am.The government will invite fresh bids to select a valuer for its stake in the lender, said a statement from the Department of Investment and Public Asset Management on Tuesday.The bid was cancelled due to a single bid received by the government for IDBI Bank’s…
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idbi bank share price: IDBI Bank shares plunge 4% after government cancels bid process to hire valuer for divestment
