IDBI Bank stake sale, Oct. 15 -- IDBI Bank share price crashed over 6.57% in Thursday's trading session after government's decision to sell over 60.72% stake in the bank to Canada's Fairfax Financial Holdings.

IDBI Bank shares opened at Rs.89.86 per share on NSE today, as compared to previous close of Rs.90.39 on Wednesday and touched an intraday low of Rs.83.62 on 14 October.

Meanwhile, LIC share price rose nearly 1% on NSE, touching an intraday high of Rs.401.90 per share on Thursday.

The Cabinet Committee on Economic Affairs (CCEA) on Wednesday cleared the sale of a 60.72% stake in IDBI Bank to Fairfax Financial Holdings, founded by Indian-born Canadian billionaire Prem Watsa, for Rs.52,877 crore. The transaction is expected to be o...