- Country: India
IDBI sale to Fairfax faces scrutiny over valuation changes, restricted bidding
Fairfax’s proposed Rs 52,878 crore acquisition of a 60.72 per cent stake has drawn scrutiny over whether the government and LIC are securing adequate value
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Latest coverage
- Country: India
IDBI Bank staff plan two-day strike against proposed Fairfax takeover
The two-day nationwide hunger strike will be held on November 2 and November 3, aimed at shelving the transaction that involves the dilution of the government’s and LIC’s shareholdings and the transfer of management control to the Fairfax group, according to a statement issued by the union.
- Country: United States
Fairfax’s Watsa Bets On IDBI Payoff As India Booms, Report Says
Canadian billionaire Prem Watsa is betting that his Fairfax Financial Holdings Ltd.’s acquisition of IDBI Bank Ltd. will pay off given India’s growth prospects, the Economic Times reported.
- Country: India
Fairfax Plans Major Financial Restructuring, Eyes Integration of IDBI Bank, Digit and IIFL Capital; Check Benefits, Deal Status and Proposed Leadership
Fairfax plans to integrate IDBI Bank, Digit Insurance and IIFL Capital into a unified financial services platform The post Fairfax Plans Major Financial Restructuring, Eyes Integration of IDBI Bank, Digit and IIFL Capital; Check Benefits, Deal Status and Proposed Leadership appeared first on The…
- Country: India
IDBI Bank Share Price Today: Stock Falls 7% After ₹52,878 Crore Fairfax Deal; Offer Price, Market Drivers and What Investors Should Know
IDBI Bank shares declined after the Fairfax stake sale announcement, drawing investor attention to the offer price, market drivers The post IDBI Bank Share Price Today: Stock Falls 7% After ₹52,878 Crore Fairfax Deal; Offer Price, Market Drivers and What Investors Should Know appeared first on The…
- Country: India
Fairfax's $6 Billion IDBI Bank Deal Signals Zest For India's Assets
Foreign investors' appetite for the broader financial sector has already reached a record.
- Country: India
IDBI Bank shares tumble 7.5% after Fairfax ₹53k-crore deal
Canadian billionaire Prem Watsa-led Fairfax will pay ₹81 per share, higher than the benchmark fair value of ₹75.99 determined by two independent valuation agencies
- Country: India
Cabinet clears Fairfax’s ₹58k-cr IDBI majority stake acquisition
The Union Cabinet on Wednesday approved the strategic sale of a 60
- Country: India
IDBI बैंक को ₹52,878 करोड़ में खरीदेगी Fairfax की सब्सिडियरी, सरकार-LIC बेचेंगे 60.72% हिस्सेदारी; 6 महीने में 20% चढ़ा शेयर
केंद्र सरकार और LIC, IDBI बैंक में अपनी 60.72% हिस्सेदारी 52,878 करोड़ रुपए में बेचेंगे। Fairfax की सब्सिडियरी कंपनी ने 81 रुपए प्रति शेयर की सफल बोली लगाई है। डील को कैबिनेट की मंजूरी मिल गई है। इस खबर के से पहले IDBI बैंक का शेयर 8.33% चढ़ा, जबकि छह महीने में इसमें 20.78% तेजी आई है।
- Country: India
Cabinet approves Fairfax’s ₹52,878-crore bid for IDBI Bank; largest FDI ever in India’s financial sector
This brings to a close a process that has stretched over five years, marking a significant step in the government's efforts to reduce its ownership of state-run assets and attract private capital into the financial sector.