Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Economic Times
The Economic Times
Business

Fairfax plans to fold IIFL Capital, Digit into IDBI Bank after Rs 52,878 crore India deal

Canadian investment group Fairfax Financial Holdings plans to bring its existing Indian financial services investments under IDBI Bank, creating a diversified financial services group spanning banking, insurance, investment banking and wealth management.

The proposed restructuring follows Centre's approval of the sale of a 60.7% stake in IDBI Bank to Fairfax in a deal valued at Rs 52,878 crore ($5.56 billion), one of the country's largest cross-border banking transactions.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.