TORONTO — Fairfax Financial Holdings Ltd. has signed a deal to buy a majority stake in Indian bank IDBI Bank Ltd. Under the deal, it is paying about $7.9 billion (528.78 billion rupees) for a 60.72 per cent equity stake in the bank. The purchase comes after a two-stage, competitive bidding process. Fairfax is acquiring the stake from the Indian government and Life Insurance Corp. of India. Once the deal is complete, the Indian government will continue to hold a 15 per cent interest in IDBI, while Life Insurance Corp. of India will own 19 per cent. The deal must be approved by the Reserve Bank of India. --- This report by The Canadian Press was first published Oct. 14, 2026.
