Re-rating catalyst
The government (45.48%) and Life Insurance Corporation of India (49.24%) are jointly looking to sell a 60.7% stake in the bank and transfer management control. Bids were reportedly received in February from entities such as Fairfax Financial, Emirates NBD, and Kotak Mahindra Bank. In March, reports emerged that the government had rejected these bids as they were below its expected valuation, causing the stock to fall sharply. However, it revived the sale process in April and began reassessing valuation and transaction terms.
