Fairfax picks up half of 3-year government bonds at auction

Fairfax Financial Holdings likely purchased government bonds as a prelude to acquiring IDBI Bank. This marks the company's second significant bond purchase in recent months. The Canadian firm is reportedly preparing to invest capital for a potential IDBI Bank stake. Fairfax aims to secure a major stake in the government-owned lender. The IDBI Bank privatisation process has been ongoing since October 2022.