For ~1, KPMG to help in IDBI Bank divestment

KPMG India has been appointed the transaction adviser for strategic divestment of IDBI Bank, and the firm will assist the government in the sale for ~1. About seven firms had bid for the role: Deloitte Touche Tohmatsu India LLP, Ernst and Young LLP, ICICI Securities, JM Financial Ltd, KPMG, RBSA Capital Advisors LLP, and SBI Capital Markets. KPMG placed the lowest bid of ~1.