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Cabinet approved sale of 60.72% stake in IDBI Bank to Fairfax Financial for about Rs 81 per share, valuing the bank at around Rs 52,878-53,000 crore
By ScoutQuest · · 1 min read
- Stake being sold
- 60.72 percent
- Deal value
- 52,878 crore rupees
- Deal price per share
- 81 rupees
- Previous closing price
- slightly over 90 rupees
- LIC stake before
- 49 percent
Heard on business television between 10:33:28 - 10:36:28 IST.
- Fairfax Financial will pick up 60.72% stake in IDBI Bank for approximately Rs 52,878 crore (reported as Rs 53,000 crore), valuing the bank at Rs 81 a share versus previous close of over Rs 90.
- Deal described as India's largest FDI deal in the financial sector once completed.
- LIC's stake in IDBI Bank will decline from 49% to 19%.
- Stock seen adjusting to the deal price; regulatory hurdles and next steps to be detailed in further analysis.
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Source: Live TV News Channel · 15 Oct 2026
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