Fairfax India new issue

[netcash1]

I believe they 49% but that does not include their CCPS which if allowed moves Fairfax to over 60% as I recall.

[Hoodlum]

The IDBI Bank divestment seems to be moving again.  New sealed bids are now being reviewed by the government with a possible decision in August.

 

https://www.ndtvprofit.com/markets/idbi-bank-shares-jump-over-3-percent-as-government-receives-revised-bids-for-stake-sale-11768041/amp/1

 

Shares of IDBI Bank rose as much as 4.08% to an intraday high of Rs 87.50 on Tuesday after the government received revised financial bids from two foreign bidders for its stake sale in the lender, according to official sources familiar with the matter.

 

Fairfax Holdings and Emirates NBD remain in the race to acquire the government's stake in IDBI Bank. Sources told NDTV Profit that Fairfax Holdings' revised bid is closer to the government's reserve price, with the Centre targeting around Rs 50,000 crore from the strategic disinvestment.

The winning bidder has not yet been finalised, with a decision likely over the next month, sources said.

 

According to Bloomberg, the government is close to accepting Fairfax Financial Holdings' offer after the Canadian insurer reportedly raised its bid by a few rupees per share following the rejection of its earlier offer, which was below the reserve price. The report added that the transaction will require approvals from the Union Cabinet and the Reserve Bank of India before it can be completed.