Kotak Mahindra Bank has recently clarified that it has not submitted any financial bid for IDBI Bank Limited as part of the ongoing disinvestment process. The clarification was issued in response to reports published in the media, including an article in The Economic Times, which suggested that the bank was among the bidders for the IDBI Bank stake sale.
In a regulatory filing under Regulation 30(11) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Kotak Mahindra Bank stated that it observed material movement in its share price on February 6, 2026. The bank said the clarification was being made to address market speculation arising from these reports.
The bank explicitly stated that it has not submitted a financial bid in the disinvestment process relating to IDBI Bank Limited. It also added that it will continue to make disclosures as required under Regulation 30 of the SEBI Listing Regulations.
Kotak Mahindra Bank said the disclosure was made in compliance with regulatory obligations and to ensure transparency in the market. The filing did not provide any further details regarding its evaluation or interest in the IDBI Bank stake sale.
The disinvestment of IDBI Bank has been under discussion in the market, with various media reports speculating on potential bidders. However, the latest clarification confirms that Kotak Mahindra Bank is not part of the financial bidding process at this stage.