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Cabinet cleared sale of 60.7% stake in IDBI Bank to Fairfax for nearly 53,000 crore rupees, at a price below the stock's previous close
By ScoutQuest · · 1 min read
- Deal value
- 53,000 odd crore rupees
- Government stake sold
- 30.48%
- LIC stake sold
- 30.24%
- Deal price per share
- 81 rupees
- Previous close
- 90 rupees
Heard on business television between 15:41:42 - 15:44:42 IST.
- Cabinet approved sale of 60.7% stake in IDBI Bank to Fairfax valued at nearly 53,000 crore rupees
- Government will sell 30.48% stake while LIC will offload 30.24%
- Deal price of 81 rupees per share is below the stock's previous close of 90 rupees, putting shares under pressure
- Discount offers investors a lower valuation benchmark after the stock's recent rally
- Fairfax will take control of the bank while government and LIC retain remaining stakes
- Stock fell 7.5%
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Source: Live TV News Channel · 15 Oct 2026
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