16-Oct-2026 12:17:49
Fairfax to Build Global Indian Bank With IDBI, Go Digit and IIFL; No Management Changes Planned
Fairfax Financial plans to transform IDBI Bank into a global Indian financial services group by bringing its interests in Go Digit and IIFL Capital under the lender. Chairman Prem Watsa said existing management teams would remain in place and employee benefits would continue without cuts. IDBI Bank CEO Rakesh Sharma is expected to lead the combined entity. The ₹52,878-crore acquisition of a 60.72% stake awaits regulatory approvals, with completion expected in early 2027.