IDBI Bank Clarifies on IDBI Bank Disinvestment News

IDBI Bank Ltd. has responded to a clarification sought by the BSE regarding a news report about Fairfax Financial's offer for the bank. The bank stated that the strategic disinvestment process is confidential and undertaken by the Government of India (GOI). IDBI Bank has no role in negotiations as it's a competitive bidding process. The bank reiterated previous disclosures on the disinvestment process, including advisor appointments and share sale details. It confirmed no communication from GOI on transaction finalization and is unaware of undisclosed material information that could explain recent share price movements. The bank will disclose any material information received.