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    Kotak Mahindra Bank says it has not submitted bid for IDBI Bank

    The government has received bids for the bank, Divestment Secretary Arunish Chawla said on Friday, without disclosing details.

    Reuters
    February 07, 2026 / 12:48 IST
    Reuters on Friday reported that the private lender was one of the bidders for the state-owned bank.

    Kotak Mahindra Bank said in an exchange filing on Saturday that it has not submitted a financial bid for IDBI Bank.

    Reuters on Friday reported that the private lender was one of the bidders for the state-owned bank.

    The government has received bids for the bank, Divestment Secretary Arunish Chawla said on Friday, without disclosing details.

    The Indian government and state-owned Life Insurance Corporation of India (LIC) (LIFI.NS) together plan to sell 60.7% of the lender as part of a broader government privatisation programme. The government owns 45.48% of IDBI Bank, while LIC holds 49.24%.

    Reuters
    first published: Feb 7, 2026 12:48 pm

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