IDBI Bank shares crash 11% amid price concerns as Fairfax deal moves closer

The valuation question assumes significance given that the reserve price was known to bidders when they participated in the process. The subsequent interest in the transaction, despite the earlier hurdle, could also be a factor in the government’s assessment of the revised offer

IDBI Bank shares fell sharply as investors focused on Fairfax Financial Holdings’ reported Rs 81-per-share offer for a 60.72% controlling stake. The proposed Rs 53,000-crore deal and potential CSB Bank merger are key developments for investors.