IDBI Bank Replies to Exchange Clarification on Market Rumors

IDBI Bank has responded to a clarification sought by the BSE regarding news on its strategic disinvestment and an increase in the bank's stock price. The bank stated that its strategic disinvestment is being undertaken through a competitive bidding process. It confirmed that it has disclosed details of the disinvestment proceedings to the stock exchanges and will provide further information on the initiation and outcome of these proceedings. IDBI Bank also affirmed its compliance with SEBI regulations by promptly intimating all material events and price-sensitive information to the exchanges.