IDBI Bank, which had been grappling with poor financial health for years, was placed under a Prompt Corrective Action (PCA) framework in 2017. Two years later, LIC infused ₹21,624 crore into the lender in exchange for preferential shares, acquiring a controlling stake in the bank.
This reduced the government’s stake to below 51%, prompting the Reserve Bank of India (RBI) to reclassify IDBI Bank as a private-sector bank.
Read more:https://www.livemint.com/companies/news/idbi-banks-52-878-crore-sale-to-fairfax-gets-govt-nod-a-9-year-journey-from-financial-crisis-to-restructuring-11791980368342.html
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IDBI Bank's ₹52,878-crore sale to Fairfax gets govt nod: a 9-year journey from financial crisis to restructuring | Company Business…
The Union Cabinet approved Fairfax's acquisition of a 60.72% controlling stake in IDBI Bank for ₹52,878 crore. The deal would reduce the government’s and LIC’s stake in the lender. Here's how the restructuring process unfolded over a period of nine years.
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5October 14, 2026 1.2K 2
