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Cabinet cleared strategic restructuring of IDBI Bank, with Fairfax as chosen strategic bidder in a deal worth 52,838 crore rupees
By ScoutQuest · · 1 min read
- Deal value
- 52,838 crore rupees
- Government stake post-deal
- 15 percent
- LIC stake post-deal
- 19 percent
- Share price range cited
- 61 to 118 rupees
Heard on business television between 16:17:31 - 16:20:31 IST.
- Cabinet's CCEA approved strategic restructuring of IDBI Bank with deal value of 52,838 crore rupees split between government and LIC shareholding.
- Fairfax was chosen as the strategic promoter after two financial bids were received; earlier bids were disregarded due to volatility in IDBI's share price swinging between 61 and 118.
- Deal must be completed before the financial year ends; IDBI brand will remain intact for at least three years and Fairfax must lock in capital for 5 years.
- Government will retain 15% stake and LIC 19% post-transaction; LIC must bring its stake down to 15% over the next two years, and a calibrated glide path for Fairfax will be worked out with RBI.
- An open offer will be made by the new promoter as part of the deal.
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Source: Live TV News Channel · 14 Oct 2026
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