IDBI Bank shares tumble after Fairfax ₹81 bid details emerge
In short
IDBI Bank shares fell after reports on Fairfax’s ₹81-per-share offer and the roughly ₹53,000-crore deal. The bid is above the fair value of Rs 75.99 set by two valuation agencies.
This matters because the news came after the stock had already risen before the announcement. The report does not say when the deal will finish or what the final price will be.
What the reporting says
IDBI Bank shares fell after details of Fairfax’s ₹81-per-share offer and the ₹53,000-crore deal were reported, according to publisher-supplied summaries. The Hindu says the bid is above the fair value of Rs 75.99 set by two independent valuation agencies, while BusinessLine says the stock had risen 9 per cent before the announcement and added Rs 8,086 crore to market value. The report does not state the closing price or next steps.
Why it matters
IDBI Bank shares fell after reporting on Fairfax’s ₹81-per-share bid and the roughly ₹53,000-crore deal. The Hindu summary says the bid is above the Rs 75.99 fair value from two independent valuation agencies, and BusinessLine says the stock had risen 9 per cent before the announcement, adding Rs 8,086 crore in market value. The exact closing move and timing are not stated.