---
title: "IDBI Bank Sale to Fairfax Sparks Employee: Timeline of Reports"
description: "India's government approved selling a 60.72% stake in IDBI Bank to Fairfax Financial Holdings for ₹52,878 crore at ₹81 per share, below an earlier ₹94.42..."
url: "https://allindia.news/running/b58e057be017/index.md"
canonical: "https://allindia.news/running/b58e057be017/"
updated: "2026-11-02T06:30:12+05:30"
language: "en-IN"
site: "AllIndia.news"
---

Running story, Business

# IDBI Bank Sale to Fairfax Sparks Employee Protests and Political Backlash

What we know so far: 8 reports from 3 outlets, first at 29 Oct, 19:54 IST, latest at 31 Oct, 16:33 IST. Headlines and summaries are quoted from each outlet, oldest first; each links to the original report.

1. Thursday 29 October
2. 19:54 IST The Economic Times [IDBI Bank employees oppose sale of stake to Fairfax](https://allindia.news/s/b58e057be017) (original: https://economictimes.indiatimes.com/industry/banking/finance/banking/idbi-bank-employees-forum-opposes-majority-stake-sale-to-fairfax-seeks-parliamentary-review/articleshow/135319447.cms)
3. 21:27 IST Mint [IDBI Bank sale: Rahul Gandhi backs employees against privatisation, raises concerns over reservation and job security](https://allindia.news/s/3054a55e061f) (original: https://www.livemint.com/companies/news/idbi-bank-sale-rahul-gandhi-backs-employees-against-privatisation-raises-concerns-over-reservation-and-job-security-11793287534114.html)

The government's decision has now brought the future of IDBI Bank's ownership, employee protections and public-sector role into sharper focus, with employee representatives seeking greater transparency and parliamentary scrutiny before the sale proceeds.

4. Friday 30 October
5. 10:44 IST X News [Rahul Gandhi Backs IDBI Employees Against Fairfax Stake Sale](https://allindia.news/s/9e7c55fe270d) (original: https://x.com/i/trending/2115766736351797335)

Rahul Gandhi wrote to employees on October 29, pledging support against the government's approved sale of a 60.72 percent stake in the profitable public bank to a Fairfax subsidiary for Rs 52,878 crore.

6. 11:08 IST Mint [IDBI Bank's ₹52,878 crore sale: What explains the ₹3,917 crore increase in winning bid? Centre clarifies](https://allindia.news/s/63febca310bc) (original: https://www.livemint.com/companies/news/idbi-banks-52-878-crore-sale-what-explains-the-3-917-crore-increase-in-winning-bid-centre-clarifies-11793336038355.html)

The government has defended the ₹52,878 crore IDBI Bank stake sale to Fairfax, saying the reserve price was not changed in round two.

7. 12:51 IST Hindustan Times [Rahul Gandhi backs IDBI Bank staff, questions sale to Canadian firm](https://allindia.news/s/bdaaf2016216) (original: https://www.hindustantimes.com/india-news/rahul-gandhi-backs-idbi-bank-staff-questions-sale-to-canadian-firm-101793344861993.html)

Rahul Gandhi opposed selling the government’s 60.72% stake in IDBI Bank to Canada’s Fairfax, warning that employees’ protections and reservations could end.

8. 19:23 IST X News [Cabinet Approves ₹52,878 Crore IDBI Bank Stake Sale to Fairfax Entity](https://allindia.news/s/d12130c92467) (original: https://x.com/i/trending/2116164778078941531)

The Cabinet approved selling a 60.72% stake in IDBI Bank for ₹52,878 crore to a Fairfax Financial Holdings-backed buyer, with the government offloading 30.48% and LIC divesting 30.24%, at ₹81 per share above a revised ₹75.99 benchmark.

9. Saturday 31 October
10. 03:15 IST X News [Opposition Slams IDBI Bank Stake Sale to Canadian Firm as Undervalued Giveaway](https://allindia.news/s/3c5ed4989fc1) (original: https://x.com/i/trending/2116283597045068151)

On October 14, 2026, the Cabinet approved selling 60.72% of IDBI Bank to a Fairfax Financial Holdings subsidiary for ₹52,878 crore, or ₹81 per share, well below the original ₹94.42 reserve price.

11. 16:33 IST X News [IDBI Bank Sale to Fairfax Sparks Employee Protests and Political Backlash](https://allindia.news/s/4295b857dbd7) (original: https://x.com/i/trending/2116485292320522742)

India's government approved selling a 60.72% stake in IDBI Bank to Fairfax Financial Holdings for ₹52,878 crore at ₹81 per share, below an earlier ₹94.42 reserve price, with the deal cleared on October 14 and expected to close by early 2027.