Announcements & other updates
Government sells 60.72% stake in IDBI Bank to Canada-based firm for Rs 52,878 crore
The Cabinet Committee on Economic Affairs announced on 14 October 2026 the approval of M/s 10955230 Canada Inc. (parent entity M/s Fairfax Financial Holdings Ltd.) as the strategic buyer for a 60.72% stake in IDBI Bank Ltd. The total purchase consideration is Rs 52,878.0806181 crore, covering a 30.48% share from the Government of India and 30.24% from LIC. The release does not say when the transaction takes effect, but the buyer must present credentials to the Reserve Bank of India.
Source details
- Issued by
- Cabinet Committee on Economic Affairs (CCEA)
- Published on
- Press Information Bureau, pib.gov.in (Press releases)
- File hosted on
- www.pib.gov.in, the government's file server for pib.gov.in
- Dated
- 14 October 2026
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