On February 06, widely circulated media reports stated that Fairfax Financial and Kotak Mahindra Bank are set to submit financial bids separately for a majority stake in IDBI Bank along with supporting documents on Friday.
The two contenders are in a race to acquire the 60.72% stake belonging to the government and Life Insurance Corporation of India (LIC) that is on offer, the reports added.
Providing a clarification on the same, Kotak Mahindra Bank said: 'We would like to clarify that the Bank has not submitted a financial bid as part of disinvestment process relating to IDBI Bank Limited.'
Kotak Mahindra Bank is the part of the Kotak Group and has diversified operations covering commercial vehicle financing, consumer loans, corporate finance, and asset reconstruction. Through its subsidiaries, the bank is engaged in investment banking, equity broking, securities-based lending, and car finance. As on 31 st December 2025, the bank has a national footprint of 2,218 branches and 2,749 ATMs (incl. cash recyclers) and branches in GIFT City and DIFC (Dubai).
The bank reported a 4.28% jump in standalone net profit to Rs 3,446.14 crore on 4.3% increase in total income to Rs 16,741.05 crore in Q3 FY26 over Q3 FY25.
The scrip had advanced 3.35% to end at Rs 422.35 on the BSE on Friday.
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Valued Customer,
BOB Capital Markets Limited (BOBCaps) is firmly committed to the safety of your wealth. We would like to bring to your notice certain precautions that you certainly must take against potential tele-fraudsters/ unscrupulous and unregistered portfolio managers:
ALWAYS AVOID
We would like to caution you against such fraudulent calls and SMSes and urge you to be alert. Follow the golden rule:
Do not share your Login Credentials or Passwords with anybody
BOBCaps employees / representatives never ask for your password.
Certain tele-fraudsters / unscrupulous and unregistered portfolio managers call customers or SMS them on the pretext of providing investment tips and lure them to invest through their bogus firms by promising huge profits.
Such deceitful callers ask the customer to share his/her login credentials with passwords to allow trading in their accounts, assuring huge returns.
Often trades done in the customer’s accounts are far from the best interest of the customers. Holdings of customers are often sold and with the funds, trades are then placed in illiquid securities at unrealistic prices.
At times, the holdings of customers are sold at prices detrimental to the customer. The so-called “portfolio manager” assures profits, which naturally does not materialize. Customers are deceived into providing access to their trading accounts, thereby allowing such fraudsters access to funds and securities available to execute trades, injurious to the customer’s interest.
In our continuous effort to keep you safeguard from the market related frauds and increase awareness while conducting trades, we request you to go through the Press Release issued by the NSE and would request you to ensure that you do not engage with the individuals and entities mentioned below: