Fairfax proposes transferring Go Digit stakes to IDBI Bank

Fairfax Financial Holdings has proposed transferring all its interests in Go Digit General Insurance and Go Digit Life Insurance to IDBI Bank. The transfers would occur at market prices and require approvals from RBI, SEBI and IRDAI; Fairfax was earlier named strategic buyer for a 60.72% stake in IDBI Bank for about ₹52,878 Cr.

• Fairfax to transfer Go Digit stakes to IDBI Bank at market prices
• Deal needs approvals from RBI, SEBI and IRDAI
• Fairfax buying 60.72% of IDBI Bank for ₹52,878 Cr at ₹81 per share
• Go Digit Q1 FY27 net profit fell 37.5% to ₹86.4 Cr