IDBI Bank shares drop 6% on ₹52,000-cr stake sale approval

IDBI Bank shares drop 6% on ₹52,000-cr stake sale approval. The Cabinet approved the sale of the government's 76.8% stake in IDBI Bank to Fairfax Financial for ₹52,000 crore, marking one of the largest privatization deals. The deal values IDBI Bank at ₹68,000 crore. LIC shares rose 2% on optimism over capital infusion from the deal.

📊 STOCKS: IDBI, LICI | 🏢 SECTOR: CapitalMarkets | #HIGHIMPACT #StakeSale