IDBI Bank shares jump 3% as Fairfax set to make biggest foreign investment in Indian lender, buy stake worth Rs 53,000 cr

Fairfax Holdings has been finalized for the IDBI Bank stake sale. This significant deal is expected to be worth approximately Rs 53,000 crore. The government plans to sell its stake, and LIC will also divest shares. Fairfax’s offer of Rs 81 per share is higher than last year’s bid. This transaction marks the largest foreign investment in an Indian bank.

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