However, the sale has triggered controversy over the valuation and alleged procedural irregularities. The Opposition and employee unions have raised concerns, while the government has defended the transaction.
Watch: The ₹53,000 cr IDBI Bank deal: Did mega sell-off get valuation right?
The government and LIC have part-sold their stake in IDBI Bank to Fairfax Financial Holdings in a ₹52,878-crore deal. The transaction marks a major shift in control of the bank, following years of financial troubles and a subsequent turnaround. However, the sale has triggered controversy over the valuation and alleged procedural irregularities. The Opposition and employee unions have raised concerns, while the government has defended the transaction.
