25-Jun-2026 09:27:05
Fairfax May Bid $5 Billion for IDBI Bank, Plans Full Exit from CSB Bank
Canadian investment firm Fairfax is reportedly preparing a nearly $5 billion bid for IDBI Bank as India's long-pending privatisation process gathers momentum. As part of the proposal, Fairfax has offered to fully divest its stake in CSB Bank to comply with regulatory norms preventing ownership of multiple banking licences. The firm is also said to position IDBI Bank as its flagship financial services investment in India, with the deal potentially fetching around ₹50,000 crore for the government and LIC. Source - MoneyControl