Fairfax is buying 60.72% of IDBI Bank for ₹52,877 crore, one of the biggest foreign investments in Indian banking. IDBI fell 6.5% on the print while LIC rose 1%, the market sorting out who gets the fl

What happened: IDBI Bank shares fell over 6.57% after the government decided to sell more than 60.72% of the bank to Canada's Fairfax Financial Holdings. LIC shares rose nearly 1%. Key numbers: IDBI opened at ₹89.86 on NSE versus a prior close of ₹90.39. LIC hit an intraday high of ₹401.90 on NSE on 14 October. The Fairfax deal is valued at ₹52,877 crore. Why it matters: The stake sale to Prem Watsa-led Fairfax Financial Holdings moved the two stocks in opposite directions, with IDBI Bank falling while LIC gained.

IDBI Bank shares fell over 6.57% after the government decided to sell more than 60.72% of the bank to Canada's Fairfax Financial Holdings. LIC shares rose nearly 1%.

The stake sale to Prem Watsa-led Fairfax Financial Holdings moved the two stocks in opposite directions, with IDBI Bank falling while LIC gained.