Fairfax Declared “Strategic Buyer” in Auction to Acquire Interest in IDBI Bank; Plans to Contribute Digit Insurance and IIFL Capital to IDBI Bank

TORONTO, Oct. 14, 2026 (GLOBE NEWSWIRE) -- Fairfax Financial Holdings Limited (“FFHL”) (TSX: FFH and FFH.U) and Fairfax India Holdings Corporation (“FIH”, and together with FFHL, collectively, “Fairfax”) (TSX: FIH.U) jointly announce today that the Government of India has declared a wholly-owned subsidiary of FFHL (the “Fairfax Purchaser”) the “Strategic Buyer” for a 60.72% equity stake in IDBI Bank Limited (“IDBI Bank”) pursuant to the Government of India’s proposed strategic disinvestment of IDBI Bank. Under the terms of its bid, the Fairfax Purchaser (or an affiliate of it) would acquire the equity stake in IDBI Bank (the “Purchase Transaction”) at a price of INR 81 per share for a total of approximately INR 528.78 billion (approximately US$5.6 billion), representing a premium to the book value of IDBI Bank as of June 30, 2026, as measured pursuant to Indian Accounting Standards, of approximately 23%.