Kotak Mahindra Bank on Saturday clarified that it has not submitted any financial bid in the ongoing strategic disinvestment process of IDBI Bank Ltd, responding to recent media reports that led to a sharp movement in its share price.
In a regulatory filing, the private sector lender said the clarification was issued under Regulation 30(11) of the SEBI Listing Regulations, 2015, following news reports published on February 6, 2026. The bank noted that the disclosure was made after observing material movement in its stock price on the same day.
Kotak Mahindra Bank has not submitted a financial bid as part of the disinvestment process relating to IDBI Bank Limited, the lender said in its exchange filing, adding that it will continue to comply with all disclosure requirements.
The clarification came a day after the Department of Investment and Public Asset Management (DIPAM) confirmed that financial bids had been received for the strategic disinvestment of IDBI Bank, without naming the bidders.
The Centre and Life Insurance Corporation of India (LIC) are jointly pursuing the divestment as part of the government’s broader privatisation and asset-monetisation drive.
