IDBI Bank was rescued by the government in 2019. RBI has approved Fairfax Financial, Emirates NBD, and Kotak Mahindra as potential bidders, Reuters reported earlier this month. The sources declined to be identified as the talks were private. Yes Bank and Kotak Mahindra did not comment on the deal talks. SMBC declined to comment. The RBI, IDBI Bank, Emirates NBD, and Fairfax did not respond to Reuters emails seeking comment. HIGH VALUATIONS? However, some potential bidders are expected to baulk at the high valuations of the targets, analysts say, clouding the prospects of the deals being sealed. It was not immediately clear known how soon the two deals will be finalised. Yes Bank is currently valued at about $10 billion, and trading at 1.58 times the 12-month forward price-to-book value, according to LSEG, compared to the sector median price-to-book value of 1.45 times. IDBI Bank trades at a 12-month trailing price-to-book value of 1.97 times, LSEG data shows.