October 14, 2026 5:10 PM
Cabinet approves Rs 52,878 crore sale of 60.72% stake in IDBI Bank to Fairfax entity
The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved Canada-based Fairfax Financial Holdings Ltd. as the strategic buyer for a 60.72% stake in IDBI Bank for approximately ₹52,878.08 crore. The transaction comprises the sale of a 30.48% stake held by the Government of India and a 30.24% stake held by Life Insurance Corporation of India. Following the sale, the government will retain 15% and LIC 19% in the bank. The winning offer of ₹81 per share exceeded the benchmark valu...