IDBI Has the Potential to Be the Best Universal Indian Bank With a Global Presence, According to Fairfax COO

News Desk, News Nation 360: Billionaire investor Prem Watsa led Fairfax Financial Holdings is set to pay Rs 52,878 crore to buy 60.72% stake in IDBI Bank at Rs 81 per share against the independent valuation of the government at Rs 75.99 per share. This is 56% higher than the March 2026 book value of the lender. The move is part of a historic divestment plan where the Government of India and LIC will hold a 34% stake. After a transparent Bidding process under the supervision of the RBI began in 2022, following the exit of IDBI Bank from the Prompt Corrective Action (PCA) regime and returning to consistent profits of between Rs 9,000-10,000 crore, Fairfax will turn the bank into an all-round financial institution to compete with best-in-class banks in India. In addition, the Canadian investor will also look to combine Go Digit General Insurance, Go Digit Life Insurance and IIFL Capital Services under the umbrella of IDBI Bank, using its vast network of branches and customers to sell insurance, wealth and capital products. This will also help boost India's credit-to-GDP ratio. Pic: Courtesy