Kotak Mahindra Bank has clarified its position on its involvement in the IDBI Bank disinvestment process. Following reports that the lender was a contender, the bank issued a formal statement to the exchanges on Saturday, February 7.
In an exchange filing to NSE, the bank clarified regarding media reports that it “has not submitted a financial bid as part of disinvestment process relating to IDBI Bank Ltd.”
In its filing, Kotak Mahindra Bank noted that it observed material price movement in the Bank’s stock on February 6, 2026 and issued this update to comply with SEBI listing regulations.
On Friday, shares of Kotak Mahindra Bank rose 3.35% to close at Rs 422.35 apiece on the BSE. The uptrend was also over the counter of the divestment player, with IDBI Bank shares settling 3.86% higher at Rs 106.92 per share.
Earlier, the Secretary of the Department of Investment and Public Asset Management (DIPAM) confirmed the progress on X. “Financial Bids have been received for the Strategic Disinvestment of the IDBI Bank. They will be evaluated as per the prescribed procedure,” DIPAM.
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