Kotak Mahindra Bank Confirms No Financial Bid Submitted for IDBI Stake Sale

On February 6, 2026, Kotak Mahindra Bank issued a formal statement confirming it has not participated in the financial bidding process for IDBI Bank. This clarification was necessary after reports suggested Kotak was among the bidders, leading to speculation and stock price fluctuations.

IDBI Stake Sale Process

The government and LIC are jointly divesting a 60.72% stake in IDBI Bank. The Department of Investment and Public Asset Management (DIPAM) is overseeing the evaluation of financial bids. Shortlisted bidders include Fairfax India Holdings and Emirates NBD, while Kotak has confirmed it is not part of the final round.

Key Highlights

• Clarification Date: February 6, 2026
• Kotak’s Position: No financial bid submitted for IDBI Bank
• Reason: Address speculation and stabilize investor sentiment
• Stake Sale: Govt & LIC divesting 60.72% in IDBI Bank
• Other Bidders: Fairfax India Holdings, Emirates NBD
• Process Status: Financial bids under evaluation by DIPAM

This clarification underscores Kotak’s cautious approach while reinforcing the government’s FY26 disinvestment strategy. Investors are advised to monitor updates as the IDBI privatization process moves forward.

Sources: Business Upturn, Moneycontrol, NDTV Profit