IDBI Bank stake sale lifts divestment to 8-year high
In short
The government and LIC approved selling a combined 60.72% stake in IDBI Bank to Canada-based Fairfax. The deal value is ₹52,878 crore, according to the report.
This could lift divestment to an eight-year high and go past the FY27 target. The report does not say when the sale will finish or if any conditions could still change.
What the reporting says
The approved sale of a 60.72% stake in IDBI Bank to Canada-based Fairfax amounts to ₹52,878 crore, with LIC and the government selling the combined holding. The reporting says this would push divestment to an eight-year high and exceed the FY27 target. It does not state the transaction timetable or any further deal conditions.
Why it matters
LIC and the government are set to sell a combined 60.72% stake in IDBI Bank to Canada-based Fairfax, with the transaction valued at ₹52,878 crore. The report says this would take divestment to an eight-year high and exceed the FY27 target. No completion date, payment schedule or other deal terms are stated in the available reporting.