New Delhi: According to a Press Information Bureau (PIB) release issued by the Ministry of Finance on October 14, 2026, the Cabinet Committee on Economic Affairs (CCEA) has approved Fairfax Financial Holdings subsidiary as the strategic buyer for the proposed acquisition of a 60.72% stake in IDBI Bank for ₹52,878.08 crore.
- The proposed transaction involves the sale of a 30.48% stake held by the Government of India and a 30.24% stake held by the Life Insurance Corporation of India (LIC).
- The selected buyer is 10955230 Canada Inc., a subsidiary of Fairfax Financial Holdings. The proposed acquisition is priced at ₹81 per share.
- Following the proposed transaction, the Government of India would retain a 15% stake in IDBI Bank, while LIC would retain a 19% stake.
- However, the transaction has not yet been completed. Fairfax has stated that definitive transaction agreements have not yet been entered into and that further regulatory and other approvals are required.
- The proposed stake sale is a significant step in the government’s strategic disinvestment programme and could bring a change in the bank’s ownership and future management.
Source: Press Information Bureau (PIB), Ministry of Finance, Government of India, October 14, 2026.
