IDBI Bank shares fell 7% after the Union Cabinet approved sale of a 60.72% stake to Fairfax Financial Holdings for Rs 52,878 crore at Rs 81 per share, about an 11% discount to the prior close. Shares dropped to around Rs 84. Post-deal, the government will hold 15% and LIC 19%; Fairfax faces regulatory clearances and a three-year lock-in.
