Page 3 of SBI

The Cabinet approved selling 60.72% of IDBI Bank to Fairfax Financial Holdings’ Canada Inc. for ₹52,878 crore, at ₹81 per share—about 10% below the October 14 closing price. The government and LIC will sell 30.48% and 30.24%, respectively, and retain a combined 34%. Jefferies called the long-awaited deal positive and said a possible merger with Fairfax-owned CSB Bank warrants attention.