Economy
CCEA Approves Sale of 60.72% IDBI Bank Stake to Fairfax for ₹52,877 Crore
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THE BRIEF
1
The CCEA approved selling a 60.72% stake in IDBI Bank to Fairfax Financial Holdings for ₹52,877 crore, marking a major foreign banking investment.
2
The government and LIC will retain a combined 34% remaining stake in the lender, while Fairfax must resolve regulatory rules regarding its CSB Bank ownership within 24 months.
3
Minority shareholders face a compulsory open offer priced at ₹81 or the 60-day average market price, serving as a market floor rather than a guaranteed premium.