Fairfax Named Strategic Buyer in Auction for IDBI Bank Stake
Fairfax says the Government of India has declared its wholly owned subsidiary a strategic buyer in the auction to acquire an interest in IDBI Bank. Fairfax plans to contribute Digit Insurance and IIFL Capital to IDBI Bank.
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09:11:33 PM UTC
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Fairfax was declared the Government of India’s strategic buyer for a 60.72% stake in IDBI Bank at INR 81 per share (~INR 528.78B), a ~23% premium to book value. The deal and planned contributions of Digit and IIFL Capital are non-binding and subject to approvals.Material DetailsContext by AI Analys…
TORONTO, Oct. U jointly announce today that the Government of India has declared a wholly-owned subsi…