India Cabinet Approves IDBI Bank Stake Sale to Fairfax for Rs 52,878 Crore
The Union Cabinet approved the sale of a stake in IDBI Bank to Fairfax Financial Holdings at Rs 81 per share. IDBI Bank shares fell 7% in early trade on Thursday, October 15.
72 percent stake in the lender to Canada-based Fairfax Financial Holdings for Rs 52,878 crore. The sharp decline came as the approved acquisition price of Rs 81 per share rep…