India, Oct. 14 -- The Government of India has issued a release:
Q1. Who is the Strategic Buyer for the IDBI Bank Ltd.?
Answer: M/s 10955230 Canada Inc. (parent entity M/s Fairfax Financial Holdings Ltd.) has been approved as the Strategic Buyer for the IDBI Bank Ltd.
Q2. What is the size of this Transaction?
Answer: The purchase consideration for this transaction is Rs.52,878.0806181 Crores (in words Rupees Fifty-Two Thousand Eight Hundred Seventy-Eight Crore Eight Lakh Six Thousand and One Hundred Eighty-One only).
Q3. How will it be split between the Government of India (GoI) and the Life Insurance corporation of India (LIC)?
Answer: 60.72% stake out of the total shareholding of the IDBI Bank Ltd is being sold through this transa...