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Cabinet cleared IDBI Bank stake sale to Fairfax for about Rs 52,800 crore, the biggest such deal in India's financial sector
By ScoutQuest · · 1 min read
- Deal size
- 52,878 crore rupees
- Fairfax stake
- 60.72 percent
- Government stake sold
- 30.48 percent
- LIC stake sold
- 30.24 percent
- Winning bid per share
- 81 rupees per share
Heard on business television between 13:02:31 - 13:05:31 IST.
- Government approved sale of 60.72% stake in IDBI Bank to Fairfax Holdings' arm for a deal size of Rs 52,878 crore.
- Transaction includes sale of 30.48% government stake and 30.24% LIC stake.
- Winning bid of Rs 81 per share exceeded the benchmark valuation of Rs 76 per share.
- Fairfax will need final RBI approvals and must comply with regulatory conditions.
- Government will retain a 15% stake, and LIC will also retain a stake.
- IDBI Bank stock was under sharp selling pressure, down about 7.3% and near day's lowest levels.
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Source: Live TV News Channel · 15 Oct 2026
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