IDBI Bank Shares Drop 4% as Kotak Mahindra Bank Exits Stake Sale Bid

• IDBI Bank shares fell 4% after Kotak Mahindra Bank confirmed it did not submit a financial bid for the stake sale.
• Fairfax Financial and Emirates NBD have submitted bids for the government's 60.7% stake in IDBI Bank.
• The Government of India and LIC are jointly selling their stakes as part of a broader privatization drive.
• Fairfax, which owns a majority stake in CSB Bank, may explore merging IDBI Bank with CSB Bank if its bid is successful.
• The government aims to complete the transaction by March 31, 2026, with the winning bidder having the option to rename the bank.