Also, interested parties and each member of the consortium would have to give a declaration or make a detailed disclosure on order/ pending investigation /proceedings by any Court/ regulatory authority/SFIO/ NCLT/ NCLAT, while submitting the EoI.Video communications platform Zoom Video (NASDAQ: ZM) stock has been trading down (-36%) for the year but is staging a rally. The last date for putting in bids is December 16. The DIPAM last week invited EoIs from prospective bidders of IDBI Bank offering to sell 60.72 per cent stake together with LIC. The interested parties and its directors and shareholders holding more than 10 per cent, or who exercise significant influence, will have to submit a self-declaration regarding whether they are subject to preventive detention proceedings under the Public Safety Act or National Security Act, criminal investigation in which charge sheet has been filed in India or any other foreign country. Only the QIPs will get access to the data room of IDBI Bank for due diligence, following which they put in financial bids.

Inviting Expression of Interest (EoI) from bidders for buying the government and LIC’s 60.72 per cent in IDBI Bank, the Department of Investment and Public Asset Management (DIPAM) said interested parties (IPs) who clear the ’Fit & Proper’ assessment by RBI and the security clearance by the government/MHA shall be notified as the Qualified Interested Parties (QIPs). Govt said to seek $7.7 billion valuation for IDBI Bank stake sale: Report Pharma Industry Conclave Unlocking opportunities in Metal and Mining.Deloitte Best Managed Companies 2022 Sustainability 100+.

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