News › Markets · 17 Oct 2026, 1:56 PM IST · 3 days ago

Who are Deepak Parekh and Paresh Sukthankar? Former HDFC and HDFC Bank execs Prem Watsa is consulting for IDBI Bank deal

Bias: Neutral 0

In one line — Fairfax Financial will acquire a 60.72% stake in IDBI Bank for about ₹53,000 crore, buying shares from the Indian government and LIC. Fairfax plans to retain CEO Rakesh Sharma and is consulting former HDFC leaders Deepak

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Source: Mint · AI-summarised by Anadi · Updated 17 Oct 2026, 2:46 PM IST

What Happened

Fairfax Financial will acquire a 60.72% stake in IDBI Bank for about ₹53,000 crore, buying shares from the Indian government and LIC. Fairfax plans to retain CEO Rakesh Sharma and is consulting former HDFC leaders Deepak Parekh and Paresh Sukthankar.