- By Aditya Pratap Singh
- Mon, 16 Mar 2026 11:36 AM (IST)
- Source:JND
IDBI Bank Share Price plummeted over 15 per cent in the early trade on March 26 despite a positive trading momentum in the domestic equity market, hitting a low of Rs 77 per share as compared to the last session's closing of Rs 92.18 on NSE. The sharp decline was seen after reports that the ongoing share sale process by the government may be scrapped due to bids below par.
At the time of writing, IDBI Bank shares were trading at Rs 78.40, down Rs 13.78 or 14.95 per cent, respectively.
The stock started the session with a massive gap-down at Rs 82.12 and further plummeted to a level of Rs 77 per share. Meanwhile, the 52-week high and low values of the stock stood at Rs 118.38 and Rs 72, respectively.
Why did IDBI Bank shares plunge?
According to a report by news agency PTI, the government and LIC had jointly sought to sell 60.72 per cent of stake in the IDBI Bank. An expression of interest (EoI) was announced in October 2022 for the same, and the financing tender came on February 6.
The news agency reported that the financing bid for the strategic sale of IDBI Bank was lower than the reserve price set by the inter-ministerial disinvestment group.
The bids for IDBI Bank share sale were opened, and they were lower than the reserve prices set by the IMG and accepted by the core investment group headed by the cabinet secretary, the report said.
Stock Market Today
The domestic equity indices were trading higher in early trade after days of a massive losing streak due to ongoing war in Middle East. The Indian stock market was trading higher in the early trade on the back of value buying post a sharp decline for most of the session last week. At the time of writing, Sensex, the 30-share index of BSE, traded 342.02 points higher at 74,899.76, while the Nifty50 was up 88.55 points to 23,240.95.
Disclaimer: This story is for informational purposes only. It should not be considered as investment advice.