Government sells 60.72% of IDBI Bank to Fairfax for Rs 52,878 crore
New Delhi agreed to sell a 60.72% stake in IDBI Bank to Canada's Fairfax Financial for ₹52,878 crore, the government announced. The Centre had held the majority stake since rescuing the lender in 2019, when it was weighed down by bad loans. The deal hands Fairfax control of the Mumbai-headquartered bank and marks one of the largest bank privatisations in India, with the transaction still subject to regulatory approvals.
Source: Government sells 60.72% of IDBI Bank to Fairfax for Rs 52,878 crore — Moneycontrol.com
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