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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.

Read the explainer Press release 2323468Official release from pib.gov.in ↗
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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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