IDBI Bank shares tumble 7.5% after Fairfax ₹53k-crore deal
IDBI Bank shares dropped 7.5% following the announcement that Fairfax Financial Holdings will acquire a 60.72% stake in the bank for ₹53,000 crore. This deal represents a significant step in India's banking privatization efforts.
Why it matters
This is the largest foreign investment in an Indian bank, signaling a major shift in the country's financial sector ownership structure.
Shares of IDBI Bank fell 7.5% on Thursday (October 15, 2026) after rallying sharply in the previous trade as Canada’s Fairfax Financial Holdings will acquire a 60.72% stake in the lender for about ₹53,000 crore ($5.5 billion).
The stock tanked 7.54% to ₹83.62 on the BSE. At the NSE, the stock dived 7.48% to ₹83.62.
Shares of IDBI Bank surged 9% before the announcement on Wednesday (October 14), adding ₹8,086 crore to its market valuation.
Canada’s Fairfax Financial Holdings will acquire a 60.72% stake in IDBI Bank for about ₹53,000 crore ($5.5 billion), in what would be the largest foreign investment in an Indian bank and a major milestone in the country’s long-delayed banking privatisation drive.
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