IDBI Bank sale to close by fiscal-end after RBI clearance: DIPAM Secretary
IDBI Bank is in focus.
· Business Today Mkts
The government on Wednesday approved the sale of a 60.72 per cent stake in IDBI Bank to Canada's Fairfax Financial Holdings for about ₹53,000 crore.
The analysis
IDBI Bank reported ₹53,000 crore, with movement of 60.72% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is +0.9% on the day at ₹84.19, and has returned -1.7% over three months. It sits 27% below its 52-week high, which means a good deal of bad news was already in the price. The banks sector has moved -3.1% over the same period, so IDBI Bank is running 1.4 points ahead of its peers.
For IDBI Bank, the question is how much of this is already reflected in the price and how much re-rates the banks peer set alongside it.
Why it matters
- With RBI involved, this carries a regulatory dimension that can outlast the immediate market reaction.
Market context
- The company directly in focus is IDBI.
- Sector exposure: Banks, Financial Services.
In this story
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