India may cancel IDBI Bank stake sale after bids fell short of reserve price.

India may cancel its plan to sell a 60.7% stake in IDBI Bank after bids from Fairfax Financial and Emirates NBD fell below the government’s reserve price, according to sources. The disinvestment, aimed at improving governance and injecting capital, has stalled despite the bank’s return to profitability with a 1.4% net profit rise in late 2025. The government and LIC jointly hold over 94% of the bank, and the failed sale threatens the fiscal year 2027 disinvestment target. No official confirmation has been given, and details on bids or the reserve price remain undisclosed.