Kotak, Emirates NBD, Fairfax to bid for IDBI Bank stake: Report

Kotak Mahindra Bank, Emirates NBD and Fairfax India Holdings will submit bids to acquire a majority stake in IDBI Bank, Moneycontrol reported. The Central government and LIC, which collectively hold around 90% stake in the lender, plan to sell roughly 60% stake. The divestment process is expected to be completed in the current financial year, the report said.