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.

[yesman182]

Here is a story from the economist about Indian airports. Several references to BALI. India is adding a lot more airport capacity than I was aware of, but it sounds like they don't typically have good ground transportation. Isn't BALI working on having a train come to the terminal from the city center? 

 

https://archive.is/wQwsN

[Hoodlum]

It looks like Fairfax has upped their offer again.  We may be getting close to an official announcement.  

 

https://economictimes.indiatimes.com/industry/banking/finance/banking/fairfax-to-acquire-idbi-bank-stake-in-5-5-billion-deal-biggest-foreign-investment-in-indian-bank/articleshow/132400419.cms?from=mdr

 

The government has finalised Fairfax Holdings for the sale of its stake in IDBI Bank after the Canadian firm sweetened its offer, people aware of the development said.

The decision was made Tuesday after meetings at the finance ministry.
 

“Fairfax is now offering ₹81 per share, which is higher than their offer of ₹75 given last year,” one of the people said.

“After much discussion, the government and Fairfax have agreed to shake hands and the official announcement could be made anytime now,” the person said.

 

An empowered group of ministers that includes finance minister Nirmala Sitharaman has been apprised of the revised bids and subsequent developments, another person aware of the matter said. “A formal notification will come soon and post that a letter of intent will be issued, followed by signing of the share-purchase agreement.”

 

Edited 35 minutes ago by Hoodlum

[Hoodlum]

12 hours ago, yesman182 said:

Here is a story from the economist about Indian airports. Several references to BALI. India is adding a lot more airport capacity than I was aware of, but it sounds like they don't typically have good ground transportation. Isn't BALI working on having a train come to the terminal from the city center? 

 

https://archive.is/wQwsN

The new Airport Metro station is expected to be completed in the next 12 months. 
 

https://www.thehindu.com/news/national/karnataka/bangalore-international-airport-limited-confidentthat-bengaluru-airport-will-be-secondlargest-in-india/article71222027.ece/amp/

 

 

Edited 36 minutes ago by Hoodlum