The government and LIC will become public shareholders in IDBI Bank after Fairfax's strategic purchase, each capped at 15% and without board representation, DIPAM Secretary Arunish Chawla said. Fairfax will assume management and capital responsibilities. The 60.72% sale to Canada’s Fairfax for about Rs 53,000 crore awaits RBI clearance and includes an open offer to minority shareholders.
