Fairfax to use IDBI's own cash for buying the bank: Report

Canada-based Fairfax plans to fund over half of its ₹52,878-crore acquisition of IDBI Bank using the bank's own capital, BW Businessworld reported. IDBI Bank will pay roughly $3 billion (about ₹28,300 crore) in cash to acquire Fairfax's stakes in Go Digit and IIFL Capital. Fairfax plans to use the proceeds from these sales to help finance its takeover of IDBI.