Indian authorities are exploring ways to revive interest from potential buyers after their long-running efforts to divest a majority stake in the $8 billion-valued IDBI Bank Ltd. hit a snag, according to people familiar with the matter.
One of the options is to reduce the reserve price by as much as 20% after buyers balked in the previous round, which was halted in March, said one of the people, asking not to be identified as the details are not public. Efforts are underway to make a deal feasible, including setting a price that captures the bank’s intrinsic value and lowers the reliance on its share price, the people said.
