India Approves $5.5 Billion IDBI Bank Sale to Canada's Fairfax, Shares Slide 7%

Name: India Approves $5.5 Billion IDBI Bank Sale to Canada's Fairfax, Shares Slide 7%
Uploaded: 2026-10-15T11:32:30.60124+00:00
Description: India's Cabinet approved the sale of a 60.72% controlling stake in IDBI Bank to a Fairfax Financial Holdings subsidiary for roughly $5.5 billion, prompting a sharp selloff in the lender's shares. The deal marks the largest foreign direct investment transaction in India's financial sector and a major step in the government's long-delayed privatization push.

India's Cabinet approved the sale of a 60.72% controlling stake in IDBI Bank to a Fairfax Financial Holdings subsidiary for roughly $5.5 billion, prompting a sharp selloff in the lender's shares. The deal marks the largest foreign direct investment transaction in India's financial sector and a major step in the government's long-delayed privatization push.

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