Kotak Mahindra Bank’s CEO has raised concerns about IDBI Bank’s valuation as the privatization process drags on. IDBI, backed by LIC, reported quarterly earnings that missed market estimates, fueling uncertainty around both the timing and the eventual pricing of the divestment. Investors now watch whether the earnings gap affects negotiations and potential offer terms.
Zurich Insurance plans to invest around Rs 4,051 crore to buy a 51% stake in Kotak General Insurance through a mix of fresh capital and share purchase. The deal also gives Zurich an option to acquire an additional 19% within three years, potentially tightening its grip on the insurer’s future direction.
Your news, in seconds
Get the Beige app — every story in 60 words, updated hourly. Free on iOS & Android.
Swipe through stories, personalise your feed, and save articles for later — all on the app.
