IDBI Bank shares tumble 7.5% after Fairfax ₹53k-crore deal
IDBI Bank shares dropped 7.5% on Thursday following a previous 9% surge after Fairfax Financial Holdings announced a ₹53,000 crore deal to acquire a 60.72% stake. Fairfax will pay ₹81 per share, exceeding the benchmark fair value of ₹75.99 set by two independent valuation agencies. Market reactions are expected as the deal progresses.