Development · 19 Oct 2026
9 publishers have reported this development. Each act of reporting is below, cited.
Last week, the Cabinet Committee on Economic Affairs approved the sale of a combined 60.72% stake in IDBI Bank held by GoI and LIC to 10955230 Canada Inc, a Canadian subsidiary of Fairfax Financial Holdings Ltd.
The Union Cabinet approved the sale of a 60.72 per cent stake in IDBI Bank to Fairfax Financial Holdings for Rs 52,878.08 crore.
The Cabinet Committee on Economic Affairs approved Fairfax Financial Holdings' acquisition of a majority stake in IDBI Bank.
Canada's Fairfax Financial Holdings is set to acquire a majority stake of nearly 61% in IDBI Bank for ₹52,878 crore, with the Union Cabinet approving the strategic restructuring plan.
The total stake sale approved in IDBI Bank to Canada-based Fairfax Holdings is ₹52,878 crore, with Life Insurance Corporation of India (LIC) and the government selling a combined 60.72 per cent stake.
Fairfax acquired a 60.7% stake in IDBI Bank for nearly $6 billion.
The sale of a 60.72 per cent stake in IDBI Bank to Canada Inc, parent of Fairfax Financial Holdings, for ₹52,878 crore has been approved by the government.
The Cabinet Committee on Economic Affairs approved the sale of a 60.72 per cent stake in IDBI Bank to Canada-based Fairfax Financial Holdings Ltd for Rs 52,878 crore.
The Cabinet Committee on Economic Affairs has approved Fairfax-backed 10955230 Canada Inc. as the strategic buyer for a 60.72 percent stake in IDBI Bank at Rs 81 per share.
The Cabinet Committee on Economic Affairs approved the strategic sale and restructuring of IDBI Bank, selecting Fairfax Financial Holdings as the strategic buyer for a 60.72% stake in the lender for ₹52,878.08 crore.
The Cabinet Committee on Economic Affairs approved the strategic restructuring of a 60.72% stake in IDBI Bank to 10955230 Canada Inc., a subsidiary of Canada's Fairfax Financial Holdings, for ₹52,878.08 crore.
The Union Cabinet has approved the sale of a 60.72 percent stake in IDBI Bank to Fairfax Financial Holdings’ subsidiary, M/s 10955230 Canada Inc., for ₹52,878.08 crore.
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