IDBI Bank's journey: From industrial financier to Rs 52,878 crore Fairfax deal

New Delhi, Oct 15 (UNI) The proposed sale of a 60.72 per cent stake in IDBI Bank Ltd to Canada-based Fairfax Financial Holdings Ltd, through its parent entity Canada Inc, for Rs 52,878 crore marks a significant milestone in the lender's transformation. The government's approval of the transaction comes five years after the strategic disinvestment plan was first proposed, paving the way for a change in ownership after years of financial stress, government support and balance-sheet repair. From its origins as a development finance institution to its emergence as a commercial bank, IDBI Bank's history reflects the changing priorities of…