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The Cabinet Committee on Economic Affairs has approved Fairfax’s acquisition of a 60.72% stake in IDBI Bank for ₹52,878.08 crore, involving the stakes held by the Government of India and LIC.
🔑 Key Drivers & Potential Impact
📈 Bank Turnaround: Improved asset quality and profitability have strengthened IDBI Bank’s position.
🏦 Strategic Disinvestment: The transaction advances the government’s disinvestment agenda while bringing in a new controlling investor.
🌐 Financial Services Expansion: Fairfax has proposed combining its interests in Go Digit’s insurance businesses and IIFL Capital Services Limited with IDBI Bank, subject to approvals.
💼 Notable Fairfax investments in India
💰 IIFL Group : Fairfax-linked transactions include ₹3,550 crore in IIFL Capital Services Limited and ₹1,271 crore in IIFL Finance.
✈️ Bangalore International Airport: ₹2,210 crore.
🏭 Global Aluminium: ₹696 crore.
