IDBI Bank sale to Fairfax enters final lap, RBI nod now key: DIPAM

The strategic sale of IDBI Bank to Canada’s Fairfax Financial Holdings is expected to be completed by the end of FY27, subject to RBI approval, DIPAM Secretary Arunish Chawla said. Fairfax will acquire a 60.72% stake from the government and LIC for about Rs 53,000 crore, in what the government described as a major step in the bank’s long-delayed privatisation.