Mergers & Acquisitions ·
Government of India names Fairfax Strategic Buyer for 60.72% stake in IDBI Bank at INR 81 per share
FAXRFFairfax Financial Holdings Ltd/ Can
The Government of India has declared a wholly-owned subsidiary of Fairfax Financial Holdings Limited the 'Strategic Buyer' in an auction to acquire a 60.72% equity stake in IDBI Bank Limited. The proposed transaction values the stake at approximately INR 528.78 billion (US$5.6 billion), representing a 23% premium to book value as of June 30, 2026. Fairfax plans to contribute its Digit Insurance and IIFL Capital businesses to IDBI Bank to create a unified financial services entity. No binding definitive agreements have been signed, and the deal requires regulatory approvals from the Reserve Bank of India and others. Fairfax Financial Holdings Limited is a holding company primarily engaged in property and casualty insurance, reinsurance, and investment management.