Bank unions protest IDBI Bank stake sale
after close1 source ↓machine-written, see hownot a recommendation
- IDBI close
- ₹90.39
- On the day
- +8.98%
- 52-week high
- ₹118.38
- 52-week low
- ₹61.01
Bank unions will protest on 16 Oct 2026 against the Union Cabinet’s approval to sell a 60.72% stake in IDBI Bank to Canada-based Fairfax Financial Holdings. The transaction, valued at ₹52,877.07 crore, would transfer control of the lender to the Canadian investor. The United Forum of Bank Unions has asked members to wear black badges and called for the government to withdraw the decision. 🏦
The unions said the divestment was unwarranted because the bank’s financial performance had improved. They also opposed what they described as the “privatisation and foreignization” of the lender. The government and Life Insurance Corporation of India together currently control around 94% of the bank’s shares, making the proposed stake transfer a major ownership change for the banking sector. The transaction remains the central event for investors, while the protest introduces a labour and policy dimension to the sale. ⚖️
IDBI Bank’s market reaction was positive before the protest. OI Charts data showed the stock closed at ₹90.39 on 14 Oct 2026, up 8.98% for the session, with volume of 148,602,851 shares. It gained 5.5% over five sessions and 9.0% over 20 sessions. The stock remained below its 52-week high of ₹118.38 recorded on 5 Jan 2026, while its 52-week low was ₹61.01 on 30 Mar 2026. 📈
Investors will watch the 16 Oct protest, the government’s response to the unions’ demand, and the next formal steps in the stake-sale process. Any clarification on transaction timelines, regulatory approvals, ownership structure or management control can affect how the market assesses the change in governance. The bank’s operating performance will also remain important as unions use its improved results to challenge the rationale for divestment.
Source: Upstox, 15 Oct 2026
Not investment advice. For informational purposes only.