18.9 Trillion Lost in Two Days: The Bank You Trusted Emptied Your Pockets
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IDBI Bank Plunges 19%, Wipes Out Rs 18,900 Crore in Two Days
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News18•17-03-2026, 18:13
IDBI Bank Plunges 19%, Wipes Out Rs 18,900 Crore in Two Days
•IDBI Bank shares plummeted by approximately 19% in just two trading sessions, wiping out Rs 18,900 crore from its market capitalization.
•The sharp decline is attributed to uncertainty surrounding the government's disinvestment plan, with reports suggesting bids were below the minimum price.
•The government might cancel and restart the bidding process for IDBI Bank's strategic sale, which began in May 2021.
•The bank's share price is now near its 52-week low of Rs 72, with its market cap falling from Rs 99,116 crore to Rs 80,224 crore.
•The government and LIC collectively hold over 94% stake in IDBI Bank, with plans to sell a significant portion.
