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The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister, has approved the selection of M/s 10955230 Canada Inc., whose parent entity is Fairfax Financial Holdings Ltd., as the strategic buyer for a 60.72% stake in IDBI Bank Ltd. The transaction has been approved for a total consideration of ₹52,878.08 crore, marking a major milestone in the government's strategic disinvestment programme. The approval was granted at the CCEA meeting held on October 14, 2026. The proposed
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FAQ :
M/s 10955230 Canada Inc., whose parent entity is Fairfax Financial Holdings Ltd., has been selected as the strategic buyer.
A 60.72% stake in IDBI Bank is being acquired.
The transaction has been approved for a total consideration of ₹52,878.08 crore.
The shares being sold are held by the Government of India and the Life Insurance Corporation of India.
The approval was granted at the CCEA meeting held on October 14, 2026.
IDBI Bank required capital infusion due to its poor financial health and incurred losses, leading to its placement under the Prompt Corrective Action Framework by the RBI.
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