14 Oct 2026 | 3 Mins Read
Cabinet OKs IDBI Bank overhaul, approves Rs 52,878 cr sale to Fairfax
Flipitmoney
The Cabinet approved the sale of a 60.72% stake in IDBI Bank to Fairfax Financial Holdings-backed 10955230 Canada Inc. for Rs 52,878 crore at Rs 81 per share. The government and LIC will retain 15% and 19% stakes, respectively. This marks India’s largest FDI in the financial sector, following IDBI’s significant financial recovery.