CCEA Approves Sale of 60.72% Stake in IDBI Bank

On October 14, 2026, the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved the sale of a 60.72% stake in IDBI Bank as part of its strategic disinvestment to Canadian firm 10955230 Canada Inc. (affiliated with the parent group Fairfax Financial Holdings) for approximately Rs. 52,878.08 crore.

Key Facts

Stake Breakdown: The total 60.72% stake sale in IDBI Bank includes 30.48% from the Government of India and 30.24% from the Life Insurance Corporation of India (LIC).
Buyer: 10955230 Canada Inc., whose parent company is Fairfax Financial Holdings Limited, was selected as the strategic buyer.
Remaining Stake: Post-sale, the Government will retain a 15% stake and LIC will hold 19% in IDBI Bank. The Government has also been permitted to sell its remaining stake in the open market.
Bidding Process: In the competitive process initiated in October 2022, four out of five interested parties were found eligible, with two ultimately submitting techno-financial bids.
Regulatory Approval: The buyer must fulfill the necessary conditions set by the RBI. Upon completion, this transaction will mark the largest Foreign Direct Investment (FDI) in India's financial sector to date.