15-Oct-2026 11:21:02
IDBI Bank Falls 7% as Fairfax’s ₹81 Acquisition Offer Comes in Below Market Price
IDBI Bank shares fell over 7% on Thursday after the Cabinet approved Fairfax Financial’s ₹52,878 crore acquisition of a 60.72% stake in the lender at ₹81 per share. The offer is around 10.4% below Wednesday’s closing price of ₹90.40 and lower than market expectations of ₹100–110 per share. The stock had rallied 9% in the previous session ahead of the announcement, triggering profit booking after the deal price disappointed investors.