Ashok Vaswani, the CEO of Kotak Mahindra Bank Ltd., expressed significant concerns regarding the valuation demanded for a stake in IDBI Bank Ltd., describing it as 'very, very high.' This statement came during a media briefing following Kotak's better-than-expected fourth-quarter earnings. Despite showing interest in IDBI Bank and receiving approval from India's central bank, Kotak Mahindra Bank ultimately did not submit a bid, reflecting a broader tepid appetite among bidders. The privatization of IDBI Bank is still on track, as stated by an unnamed finance ministry official, who noted that the government's expectations for valuation remain firm despite the bank's recent earnings report falling short of estimates. This situation has led to delays in the sale process, as initial bids did not meet the reserve price, indicating a disconnect between buyer expectations and the government's pricing strategy.