IDBI bank stake sale to Fairfax: Are IIFL Finance, Shriram Finance next in line for foreign investment? What we know
The Indian government approved the sale of a 60.72% stake in IDBI Bank to Fairfax Financial Holdings for ₹52,878 crore, marking a significant disinvestment. Following this, Blackstone and Mitsubishi UFJ Financial Group are reportedly exploring stakes in IIFL Finance and Shriram Finance, respectively. This could lead to further foreign investments in India's financial services sector.