Fairfax plans to combine all of its interests in the insurtech company Go Digit and wealth management company IIFL Capital into IDBI Bank to make the lender into a holistic financial services provider. In Go Digit, Fairfax currently holds a 49% stake. A separate internal corporate restructuring approved by the CCI could eventually increase this … Read more
Indian government has announced a majority stake sale in the state-owned IDBI bank to Canadian firm Fairfax Financial Holdings for Rs 52,878 cr ($5.5 billion). Fairfax’s winning bid offered a price of Rs 81/ sharee for a 60.7% stake in IDBI Bank. During the bidding process, the government arrived at an average fair value of … Read more
Recently, Mitsubishi UFJ Financial Group (MUFG) had acquired a 20% stake in Shriram Finance. Bloomberg now reports that MUFG is looking to eventually gain majority control in the Company. The idea to increase stake from 20% to more than 50% is speculated to be in early stages with neither any indicated acquisition structure nor the … Read more
The Reserve Bank of India has approved Anup Bagchi’s appointment for a three-year term starting October 27, 2026, succeeding Sashidhar Jagdishan. Bagchi would be joining from ICICI Prudential Life Insurance where he has been serving as MD & CEO since June 2023. He is an ICICI veteran who had joined the group way back in 1992. … Read more
The Bank has received RBI approval for Anup Kumar Saha as the Bank’s Managing Director & Chief Executive Officer for a period of three years, effective January 1, 2027. He had joined Kotak Mahindra Bank in January 2026, and is currently working as an Executive Director of the bank. He is currently looking after the Retail Bank, … Read more
Any change in the Tata Group’s structure that makes a clear controlling entity less obvious or weakens the holding company’s credit profile may impact the outlook of the group’s credit quality, and thereby, individual ratings, rating agency S&P said on Tuesday. The leadership transition or changes in the group structure or stakeholder priorities may raise … Read more
Venu Srinivasan, trustee of the Sir Dorabji Tata Trust (SDTT) and Sir Ratan Tata Trust, and their joint nominee director on the Tata Sons board, has asked the Maharashtra Charity Commissioner for an immediate inquiry into the trust’s administration and governance. He alleged “serious governance lapses” and raised concerns over involvement of the charitable trust … Read more