Indian Government Sells 60.7% Stake in IDBI Bank to Fairfax Financial Holdings
- 1The Indian government announced it will sell a 60.7% stake in IDBI Bank to Fairfax Financial Holdings.
- 2This transaction, valued at over 529 billion rupees (approximately $5.5 billion), is expected to be the largest foreign direct investment deal in India's financial sector.
- 3IDBI Bank shares fell by more than 7% on Thursday.
So what's the key point?
The Indian government decided to sell a 60.7% stake in IDBI Bank to Fairfax Financial Holdings. Following this news, IDBI Bank shares dropped by more than 7%.
Source Bloomberg +2 · View original ↗
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