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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
As growth flatlines, acquisition of the government-controlled lender may be the only way out for the Uday Kotak-promoted bank to stay relevant.
Kotak Mahindra Bank and its promoter Uday Kotak are out to defy their own legend. Known for their discipline, tight purse strings and near-obsessive focus on asset quality, they are suddenly ready to open their wallet. The bank is now the front-runner to acquire 60% of IDBI Bank—an acquisition so large, it could end up costing as much as $6 billion (approximately Rs 53,000 crore).
“The Centre is likely to invite fresh bids for IDBI Bank. The last time, potential investors had gotten cold feet, so the process was delayed. This time we are expecting bids from Kotak and Prem …
