IDBI Bank shares fall 7% after government announces stake sale to Fairfax

India's government announced a $5.5 billion stake sale in IDBI Bank to Canada's Fairfax, and the bank's shares fell 7%, according to CNBC. The sale is part of wider state divestments amid fiscal pressure.

Timeline

1. 15 Oct, 06:12 UTCCNBC reports IDBI Bank stake sale and 7% drop

Top sources

• India’s IDBI Bank falls 7% as government announces $5.5 billion stake sale to Canada's FairfaxCNBC