Kotak Mahindra Bank says it has not submitted a bid for IDBI Bank
Kotak Mahindra Denies Bid For IDBI Bank
Kotak Mahindra Bank clarified that it has not submitted a bid for IDBI Bank, responding to market speculation about potential participation in the government’s ongoing disinvestment process. The statement was issued to address reports suggesting the private lender was evaluating an acquisition proposal.
Kotak Mahindra Bank Denies IDBI Bank Bid
The bank said it has not made any offer or formal submission related to the proposed stake sale. The clarification came after reports indicated interest from several financial institutions in acquiring the lender being privatised.
Officials emphasised that any material development would be disclosed through regulatory filings in line with disclosure norms.
IDBI Bank Disinvestment Process
The government and the Life Insurance Corporation of India are currently working toward selling a majority stake in IDBI Bank to a strategic investor. The process has drawn attention from domestic and international investors due to the scale of the transaction.
Authorities are evaluating potential bidders based on financial strength and regulatory suitability before shortlisting participants.
Market Reaction And Regulatory Disclosure
Following the clarification, the bank reiterated its commitment to transparent communication with shareholders and regulators. Market participants closely monitor such announcements as large acquisitions can affect valuation and sector competition.
The disinvestment exercise remains ongoing, with further updates expected as the selection process progresses.
