CCEA Approves IDBI Bank Stake Sale to Fairfax for ₹52,878 Crore
The government and LIC are to receive the proceeds from the sale.
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New Delhi, Oct. 14 -- Life Insurance Corporation of India (LIC) will reduce its stake in IDBI Bank to 19 per cent as the Union Cabinet on Wednesday approved the strategic restructuring of the lender, allowing Canada's Fairfax Financial Holdings to acquire a controlling 60.72 per cent stake for Rs 5…
Government on Tuesday announced ‘Strategic Restructuring’ of IDBI Bank by offering over 60 per cent shares with management control to Canada Inc. “The Cabinet Committee on Economic Affairs (CCEA) in its meeting held on October 14 appr…