The forum representing IDBI officers and employees has approached Parliament’s finance standing committee with concerns about the proposed sale. Its argument is that the quoted share price may not fully capture the bank’s property holdings, customer base, brand and branch reach.

IDBI began as a development finance institution more than six decades ago. Over the years, it acquired offices, housing and land in locations across the country. The forum says properties purchased long ago could now command substantially higher prices, particularly in Mumbai and Delhi.

The employees want a detailed assessment of what these properties would cost to replace and how they could be developed. They worry that a buyer might recover a substantial portion of the acquisition expense by selling or leasing buildings considered surplus. They have also sought clarity on whether the sale agreement contains protections against such gains.

Another concern involves land originally provided for public purposes, potentially at discounted rates or under special legislation. The forum has requested separate legal checks for each property to establish whether private ownership is permitted or whether the land must revert to a state government. The report does not state the government’s response or confirm any fresh valuation exercise.