IDBI Bank says no update on Fairfax Financial disinvestment deal

Strategic Transactions View source PDF Explain this filing

IDBI · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

-0.6%Reaction day

₹86.36

prior close

₹87.50

announcement price

After-mkt

timing

Nifty Smallcap 250market+0.7%-1.2% vs market

Private Sector Bank peers, median of 19sector+0.5%-1.1% vs sector

On the reaction day the stock moved 1.2 pts less than Nifty Smallcap 250 and 1.1 pts less than its Private Sector Bank peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-0.2

10m

+0.7

15m

+1.0

30m

+0.7

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-0.6+0.7-1.2+0.5-1.1

Next day

-0.9+0.7-1.6+0.2-1.1

+0.7+0.2+0.6+1.6-0.9

-1.4+0.3-1.7+1.4-2.8

+0.4+0.7-0.3+2.9-2.5

-0.4-0.6+0.2+0.9-1.3

-1.9-2.1+0.1+0.3-2.2

15d

-2.4+1.9-4.3+2.4-4.8

-4.8+1.9-6.7-0.1-4.7

-3.9-0.5-3.4-0.6-3.3

-3.8-1.9-1.9-0.7-3.1

UpDownMarket · Nifty Smallcap 250Sector · Private Sector Bank peers, median of 19Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

IDBI Bank told NSE it cannot confirm or deny a media report saying the government is close to accepting a sweetened Fairfax Financial offer for the bank. The bank said the strategic disinvestment is a confidential government process and it has no role in negotiations. It stated it has received no communication from the government on finalising any deal. The disinvestment involves sale of 60.72 percent stake (government 30.48 percent and LIC 30.24 percent).

Likely market impact

Stock may stay volatile as Fairfax Financial disinvestment news remains unconfirmed. Investors should wait for an official government announcement.