Dipam Secretary says that the IDBI bank is not investing the IDBI bank investment.

A senior official in the Ministry of Finance said on Wednesday that the strategic sale of IDBI Bank is going well, while confirming that stock sales strategies in public sector institutions will be calibrated, given the current market conditions.

“The strategic investment of IDBI is applying according to the government’s decision and we are moving in parallel on several fronts,” said Aaronish Chaoula, Secretary of Investment and Public Asset Department (Dipam).

While refusing to give a specific timetable to complete the transaction, Chawla said many of the main steps are taken, including creating a data room and responding to the inquiries of offers. Asset evaluation has also been set. “The financial bids will come when the stage comes,” he told reporters.

As part of the lack of investment, the center will sell along with a 61 % stake in India in India. This includes 30.48 % share of the government of India and 30.24 % of LIC. The process that started in January 2023 is expected to be completed.

Dipam Secretary also emphasized that the management strategy is calibrating the market conditions. “The tool we publish depends on market conditions. This is part of the management strategy,” he stressed in the midst of the constant turmoil in global and local stock markets where the United States takes measures on mutual definitions.

Which leads to the confirmation of the creation of value by the institutions of the central public sector, which has expressed its hope that it would provide a record highest profits ever in the current fiscal year. He said, “We hope to achieve the highest PSU profits ever this year,” adding that government employment companies will also meet under the goal of capital expenditures for the fiscal year.

In FY25, CPSES gave standard profits of 1.5 rupees, with 74.016.68 rupees. Companies with higher profits that pay in the fiscal year include 25 Coal India LTD companies that paid 10,252.09 rupees, and ONGC LTD, which gave 10,001.97 rupees.