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TPG Capital interested in IDBI Bank stake

US firm TPG Capital is reported to be interested in acquiring a stake in IDBI Bank, which the government is keen to make a private sector enterprise. According to news reports, the bank has already approached several PE Firms and other investment vehicles in this regard and TPG Capital is one among them which is interested as it is keen to invest as much as $1 billion annually in India over the next three years. Its co-founder Jim Coulter has confirmed this proposition. IDBI Bank has appointed advisers including Bank of America Corp, Citigroup and Credit Suisse Group to arrange a share sale of Rs3770 crore and it has also approached International Finance Corp in this regard, the reports suggested.

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