CCEA approves Fairfax as strategic buyer of 60.72% IDBI Bank stake for ₹52,878 crore
Key facts
- The Cabinet Committee on Economic Affairs approved the strategic sale of IDBI Bank on 14 October 2026.
- The buyer is 10955230 Canada Inc., whose parent is Fairfax Financial Holdings Ltd. The price is ₹52,878 crore for 60.72% equity.
- The stake comes from the Government of India (30.48%) and LIC (30.24%). The Government keeps 15% and LIC keeps 19%.
- The winning bid was ₹81 per share. The independent fair-value benchmark was ₹75.99 per share.
Why it matters
[Policy] This is the first full strategic sale of a public-sector bank. It was decided through a two-stage competitive bid. RBI had put IDBI under Prompt Corrective Action in May 2017 and lifted the curbs in March 2021. The sale shows how disinvestment is moving to ownership transfer. Use it in GS-3 on banking reform and public-sector privatisation.
Test yourself
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