IDBI Bank share price rises 5%, stock up 16% in one month; here's why
The revised bids from Canada's Fairfax Financial and Dubai's Emirates NBD are being evaluated, Reuters reported adding that a top panel of bureaucrats met on Monday to discuss the stake sale.
- Jul 14, 2026,
- Updated Jul 14, 2026 1:05 PM IST
Shares of IDBI Bank climbed 5 per cent in Tuesday's trade after a report, citing government officials, said the Centre has received revised bids for the sale of its stake in the lender from Fairfax Financial and Emirates NBD. The report added that the stake sale process is expected to be completed within a month.
Following the development, IDBI Bank shares rose 5.12 per cent to hit a high of Rs 88.40 on BSE. This took the bank's one-month rise to 15.72 per cent.
Reuter reported that the revised bids from Canada's Fairfax Financial and Dubai's Emirates NBD are being evaluated, adding that a top panel of bureaucrats met on Monday to discuss the stake sale, under which the Centre and state-run Life Insurance Corporation of India (LIC) are jointly selling a 60.7 per cent stake in IDBI Bank.
The finance ministry, IDBI, LIC, Fairfax and Emirates did not immediately respond to Reuters requests for comment. Business Today could not independently verify the report at this point in time.
Earlier on Tuesday, Bloomberg News reported that Fairfax was the frontrunner to buy the stake. Bloomberg had last month suggested Fairfax, led by investor Prem Watsa, had submitted a $5 billion bid for IDBI Bank and offered to fully divest its stake in CSB Bank as part of the process.
Fairfax, as per the June report, extended a commitment that IDBI Bank will be its only investment in the banking space, fully divesting its 40 per cent stake in CSB Bank upon the acquisition of IDBI Bank. This would result help comply with RBI’s norms which mandate that a promoter cannot hold two banking licenses.
Faifax may have quoted a per share bid price of approximately Rs 77, Bloomberg in June reported.
The IDBI Bank stake sale process was said to have restarted this month after the bids received in March fell short of the government's minimum price expectations. Reuters had earlier reported that the Centre had put the divestment on hold after the offers failed to meet its valuation expectations.
Shares of IDBI Bank climbed 5 per cent in Tuesday's trade after a report, citing government officials, said the Centre has received revised bids for the sale of its stake in the lender from Fairfax Financial and Emirates NBD. The report added that the stake sale process is expected to be completed within a month.
Following the development, IDBI Bank shares rose 5.12 per cent to hit a high of Rs 88.40 on BSE. This took the bank's one-month rise to 15.72 per cent.
Reuter reported that the revised bids from Canada's Fairfax Financial and Dubai's Emirates NBD are being evaluated, adding that a top panel of bureaucrats met on Monday to discuss the stake sale, under which the Centre and state-run Life Insurance Corporation of India (LIC) are jointly selling a 60.7 per cent stake in IDBI Bank.
The finance ministry, IDBI, LIC, Fairfax and Emirates did not immediately respond to Reuters requests for comment. Business Today could not independently verify the report at this point in time.
Earlier on Tuesday, Bloomberg News reported that Fairfax was the frontrunner to buy the stake. Bloomberg had last month suggested Fairfax, led by investor Prem Watsa, had submitted a $5 billion bid for IDBI Bank and offered to fully divest its stake in CSB Bank as part of the process.
Fairfax, as per the June report, extended a commitment that IDBI Bank will be its only investment in the banking space, fully divesting its 40 per cent stake in CSB Bank upon the acquisition of IDBI Bank. This would result help comply with RBI’s norms which mandate that a promoter cannot hold two banking licenses.
Faifax may have quoted a per share bid price of approximately Rs 77, Bloomberg in June reported.
The IDBI Bank stake sale process was said to have restarted this month after the bids received in March fell short of the government's minimum price expectations. Reuters had earlier reported that the Centre had put the divestment on hold after the offers failed to meet its valuation expectations.