IDBI BANK : 60.72% STAKE SALE TO FAIRFAX WORTH OVER RS 52,878 CR

• CCEA approved M/s 10955230 Canada Inc. (parent Fairfax Financial Holdings Ltd.) as strategic buyer for 60.72% stake • Purchase consideration of ₹52,878 Cr, split as 30.48% GoI stake and 30.24% LIC stake • Winning best offer bid at ₹81/share v benchmark price of ₹75.99/share, itself the average of two independent valuations • GoI to retain 15% and LIC 19% residual shareholding; both to withdraw their board nominees and become public shareholders • Buyer must present credentials to RBI under Fit and Proper assessment and submit roadmap for regulatory compliance

IDBI Bank Ltd

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