IDBI Bank sale to Fairfax: 19,108 employees raise job and reservation worries
3 November 2026 · 2 min read · HireHo
Based on BW People reports published on 25 and 30 October 2026. Summarised in our own words.
60.72%stake being sold
~Rs 53,000 crdeal value
Rs 81price per share
19,108IDBI Bank employees
On 14 October the government approved selling a combined 60.72% stake in IDBI Bank to Canada's Fairfax Financial Holdings, led by Prem Watsa. The deal is worth about Rs 53,000 crore at Rs 81 per share. It is expected to close by the end of this financial year, subject to approvals including the RBI's.
The workforce
IDBI Bank has 19,108 employees. This includes about 9,500 from SC, ST and OBC communities, 6,911 women and 884 employees with disabilities.
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What the staff want
- The United Forum of IDBI Officers and Employees wants the sale paused and reviewed by Parliament.
- It wants the government to explain how the bank and its property were valued.
- It wants guarantees on job security and reservation policies.
- It asks how the sale fits an earlier assurance that government shareholding would stay at 51% or more.
A separate BW People report on 25 October said employee benefits are protected under the share purchase agreement.
What this means for you
- A large public-sector bank moving to private ownership can change hiring, promotions and job security.
- Banking job seekers should watch how hiring at IDBI changes after the deal closes.
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SourcesBW People: IDBI Bank staff flag employment and reservation concerns over proposed privatisationBW People: IDBI Bank divestment, employee benefits protected under share purchase agreementHireHo explains these reports in its own words. Figures belong to the sources above.
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