IndiaCanada’s Fairfax wins 60.72% of IDBI Bank for ₹52,878 crore.
The government calls it India’s largest disinvestment and largest foreign investment in financial services.
The government sells 30.48% and state-owned Life Insurance Corporation 30.24%, keeping a combined 34%, enough to block special resolutions.
The ₹81 share price sits 10.4% below Wednesday’s close, and IDBI shares fell about 7% Thursday.
The Reserve Bank of India’s fit-and-proper review comes first, then a share purchase agreement before 2026 ends.
How each outlet framed it
drawn from 100+ reports worldwide
- Hindustan Times
- notes the 52,878 crore price is the largest FDI in Indian financial services and that the sale splits government and LIC stakes
- MoneyControl
- reports the 11% discount to previous close and the 7% share drop, placing the stock 3.7% above Fairfax's acquisition price
- mint
Sources: Hindustan Times, MoneyControl, mint