DIPAM Secretary Arunish Chawla discusses the ₹52,878 crore IDBI Bank stake sale, Fairfax's RBI clearance, disinvestment plans, capital receipts and the government's dividend outlook.
The government used an independent valuation benchmark of ₹75.99 per share after rejecting an earlier bid of ₹75 that fell short of the ₹94.42 reserve price
A long-delayed sale of a majority stake in IDBI Bank, held by the federal government and state insurer Life Insurance Corp of India, is in its final stages
The Centre is close to accepting Fairfax Financial's revised offer for IDBI Bank, with the Canadian firm's bid expected to be raised slightly ahead of final regulatory and Cabinet approvals
According to the exchange data, the retail investor portion of the issue was subscribed 4.27 times. The qualified institutional buyers' portion was booked 12.56 times
Entry of Shriram Group as a bidder, could set the stage for at least a two-way contest for IDBI Bank with Prem Watsa's Fairfax Financial also believed to be a contender
FAL Corporation, a subsidiary of Canada-based Fairfax, sold 22 million shares at Rs 1,178 apiece via block deals, the data provided by stock exchanges showed
Last year, Toronto-based Fairfax agreed to invest $168 million for a 51% stake in the Syrian Catholic Bank, the first time the RBI allowed a foreign firm to take a majority interest in a local lender
