EXPLAINED: Fairfax - The Real Truth

IDBI Bank employees' forum opposes majority stake sale to Fairfax, seeks parliamentary review

United Forum of IDBI Officers and Employees has expressed opposition to the proposed sale of IDBI Bank. Concerns include potential undervaluation of the bank's assets and the need for public scrutiny. The government plans to transfer a significant stake in IDBI Bank to Fairfax Financial Holdings. This transaction, valued at…

The Economic Times · 1h ago

Moody's sees limited impact on Fairfax leverage from IDBI Bank takeover

Fairfax Financial Holdings is preparing to acquire a majority stake in IDBI Bank in India. The Canadian investor's acquisition aims to enhance its presence in the growing Indian financial market. Fairfax plans to fund the transaction through various means, ensuring a stable financial position during the process. IDBI Bank has…

The Economic Times · Oct 19

IDBI Bank shares in focus as Q2 net profit falls 39%; NII tanks nearly 50% YoY

IDBI Bank reported a 39% YoY decline in Q2 FY27 net profit, partly due to a one-off gain in the previous year. Despite this, underlying profitability, margins, asset quality, deposits and advances showed improvement. Meanwhile, Fairfax Financial’s proposed 60.72% stake acquisition marks a major milestone in the bank’s privatisation.

The Economic Times · Oct 19

Canada's Warren Buffett bets his billions on India. What does he see?

Prem Watsa’s Fairfax Financial will acquire a 60.72% stake in IDBI Bank for Rs 52,878 crore, marking India’s largest cross-border banking deal. The Canadian investor plans to build a financial services powerhouse by combining banking with insurance, wealth management and capital markets. But regulatory approvals, overlapping ownership with CSB Bank…

The Economic Times · Oct 15

IDBI Bank shares fall 7% as investors book profit after Fairfax deal gets cabinet nod

IDBI Bank shares plunged as investors booked profits after a nearly 13% rally in the previous session following the Cabinet’s approval of Fairfax’s acquisition of a 60.72% stake in the lender. The stock had hit Rs 93.60 on Wednesday, lifting its market capitalisation above Rs 1 lakh crore. The Rs…

The Economic Times · Oct 15

A $6 bn deal signals major appetite for the India prize as global giants look to deepen exposure

The sale of a controlling stake in IDBI Bank for around $6 billion is being viewed a pivotal moment in India's banking reform journey. The transaction received attention from a variety of global investors, highlighting their confidence in the nation's financial ecosystem. Experts predict this move may open doors to…

The Economic Times · Oct 15

Early Diwali dhamaka: With the IDBI strategic sale to Fairfax, GoI has taken a giant step in the disinvestment pathway

IDBI Bank's sale as part of a disinvestment strategy provides ₹26,000 cr to the government during economic challenges. Government of India retains a 15% stake, indicating potential future market sales. The bank's strong performance is reflected in its improved financial metrics and management stability. Discussions about privatization in the banking…

The Economic Times · Oct 14

Canada sees scope for more investments in India after Fairfax-IDBI bank deal, says Minister Sidhu

Canada's Minister of International Trade has noted the investment potential between Canada and India in infrastructure development. Following IDBI Bank's sale, Canadian companies aim to expand their presence in key sectors. The need for building additional airports in India presents opportunities for Canadian expertise in infrastructure and aviation. Canadian pension…

The Economic Times · Oct 14

Cabinet approves Rs 52,878 crore IDBI Bank sale to Fairfax arm in India’s largest financial-sector FDI

The Cabinet Committee on Economic Affairs has approved the strategic sale of IDBI Bank to a Fairfax Group arm, Union Minister Ashwini Vaishnaw said. The government and Life Insurance Corporation of India will retain a combined 34% stake in the restructured entity. Vaishnaw called it India’s largest financial-sector FDI.

The Economic Times · Oct 14

IDBI Bank shares rally 13%, market value swells by Rs 11,460 crore amid muted market. What lies ahead?

IDBI Bank shares surged nearly 13%, adding over Rs 11,460 crore to its market capitalisation amid progress in the privatisation process. The bank reported strong Q2FY27 business growth, while JM Financial highlighted loan growth, deposit mobilisation and margin pressures across the banking sector.

The Economic Times · Oct 14