The Indian Government is understood to have approached global buyout funds and financial institutions, such as Carlyle group, TPG Capital and love controlled fairfax Holdings, to measure investor interest in buying a majority stake held directly by the centre government and the (bail-out) lender.
DIPAM officials situated in New Delhi could not be immediately reached for their reactions. Furthermore, Carlyle, TPG and KPMG also declined to comment on the report. IDBI Bank and LIC did not comment on the matter either.
Central Government and LIC together hold more than 94% equity Bank. The United States holding in the bank, which had the highest proportion of bad loans, is valued at over Rs41,000 crore at current market prices.
Read more: IIFL
