Fairfax Emerges as Front-Runner for IDBI Bank Stake Sale in Landmark Privatisation Move
The Indian government’s long-awaited plan to privatise IDBI Bank has gained momentum, with Canada-based Fairfax Financial Holdings reportedly leading the race to acquire a controlling stake in the lender. If the deal is completed, it could be valued between $5.5 billion and $5.7 billion , making it one of the largest foreign investments in India’s banking sector. The proposed transaction remains under review, with no final decision announced. However, it has already attracted significant attention due to its potential impact on India’s banking industry and the government’s broader disinvestment agenda. The proposed acquisition remains under review, and authorities have not yet announced a final decision on the transaction. Government and LIC to Sell Majority Stake The Centre and the Life Insurance Corporation of India (LIC) are jointly planning to sell a 60.7% stake in IDBI Bank. The government currently holds around 45.5% , while LIC owns nearly 49.2% , giving them a combined stake...