Banking Bombshell: Kotak Mahindra Bank Leads IDBI Acquisition Race, Announces Major 5-for-1 Stock Split!

Overview

Kotak Mahindra Bank is reportedly the frontrunner to acquire the government's stake in IDBI Bank, with Fairfax and Oaktree also in contention. A potential part-cash, part-equity merger is being considered due to IDBI's high valuation. Meanwhile, Kotak Mahindra Bank's board has approved a 5-for-1 stock split to make shares more affordable for retail investors. The government and LIC are selling a combined 60.72% of IDBI Bank.