{"data": {"schema": "publicfeed.update.v1", "id": "PIB-2330284", "url": "https://publicfeed.in/orders/PIB-2330284", "headline": "Ministry of Finance clarifies strategic restructuring process for IDBI Bank", "summary": "The Ministry of Finance stated on 29 October 2026 that the strategic restructuring of IDBI Bank Ltd. involved a two-round bidding process. The Core Group of Secretaries on Disinvestment (CGD) determined the procedure for the second 'best offer' round after initial bids from the 2025-26 financial year were not approved. The government used independent agencies for valuations, which resulted in the bid discovered price increasing by Rs 3,917 crores. The Government of India and LIC will retain residual shareholdings to benefit from future value enhancement.", "key_points": ["Bid discovered price increased by Rs 3,917 crores", "Potential liability for disputed tax demands was Rs 627 crores", "Valuation methodology was reviewed by the CGD in April 2026", "GoI and LIC will retain residual shareholdings in IDBI Bank", "Process remained double blind: bidders did not know valuation and valuators did not see bids"], "issued_date": "2026-10-29", "listing_date": "2026-10-29", "document": {"form": "Press release", "number": "2330284", "type": "Press release", "legal_character": "informational_communication", "functions": ["announces"], "cites": []}, "issuer": "Ministry of Finance", "department": "Ministry of Finance", "source": {"key": "pib", "name": "Press Information Bureau", "site": "pib.gov.in", "official_url": "https://www.pib.gov.in/PressReleseDetail.aspx?PRID=2330284"}, "topics": ["disinvestment", "banking", "valuation"], "reader_topics": ["Budget & spending"], "intent": "updates", "states": [], "national": true, "places": [], "applies_to": ["IDBI Bank Ltd."], "dates": [{"kind": "period_start", "date": "2025-04-01", "wording": "financial year 2025-26", "what": "initial bid round", "counts_from": null}, {"kind": "event", "date": "2017-08-16", "wording": "August 16, 2017", "what": "CCEA meeting approving disinvestment procedure", "counts_from": null}, {"kind": "event", "date": "2026-04-01", "wording": "April, 2026", "what": "CGD review of valuation methodology", "counts_from": null}, {"kind": "event", "date": "2026-10-14", "wording": "14.10.2026", "what": "press note explaining bidding benchmarks", "counts_from": null}], "revision": "dd2eab238ab51a12", "recorded_at": "2026-10-29T16:51:32.896593+00:00", "provenance": {"method": "ai_summary", "automated_check": "pass", "human_review": "pending"}}, "meta": {"schema": "publicfeed.update.v1", "count": 1, "next": null, "plan": "free", "feed_updated_at": "2026-10-29T19:05:42.595874+00:00", "generated_at": "2026-10-29T19:30:20+00:00"}, "attribution": "Data: PublicFeed (https://publicfeed.in), summarising official documents linked in each record. Summaries are AI-generated and not legal advice; the official original is the authority.", "license": "https://publicfeed.in/terms#data-licence"}