New Delhi, June 17 -- IDBI Bank shares surged nearly 20% on Wednesday, 17 June, amid reports that the government is exploring options to revive the long-pending privatisation of the lender.

According to a news report, the Centre is evaluating ways to restart the disinvestment process, including the possibility of reconsidering bids submitted by Prem Watsa-led Fairfax Financial Holdings and Emirates NBD. The bids were earlier rejected after failing to meet the undisclosed reserve price, sources familiar with the matter told the publication.

The report said the bids remain "alive" and the government is examining legal provisions under the tendering framework that could allow acceptance of offers below the reserve price under certain circu...