International Finance Corporation may acquire 15% stakes of IDBI Bank as the government plans to capitalise by selling its stakes. According to a report, even as talks have been held with various premier financial institutions including GIC of Singapore, Asian Development Bank and Commonwealth Development Corporation, the IFC has emerged as the top contender to buy the stakes. The talks with IFC have entered final stages with negotiations having taken place at the top level last week, the report said. The government currently holds over 74% in the bank and is open to reducing its stake below 50%. Even though the government was planning to sell around 10% stakes of the bank, new RBI guidelines allow to sell a larger share. The level of shareholding in the bank is yet to be finalised as due diligence has not started.
