14-Oct-2026 17:35:32
Centre Approves ₹52,878 Crore IDBI Bank Sale to Fairfax in India’s Biggest Financial-Sector FDI
The Union Cabinet has approved the sale of a 60.72% stake in IDBI Bank to Fairfax Financial Holdings’ subsidiary for ₹52,878 crore, marking India’s largest foreign investment in the financial sector. The deal involves the government selling 30.48% and LIC divesting 30.24% at ₹81 per share. Following the transaction, the government will retain 15% and LIC 19%. The sale transfers management control to Fairfax, subject to regulatory requirements and completion of the transaction.