IDBI Bank's ₹52,878 crore sale: What explains the ₹3,917 crore increase in winning bid? Centre clarifies

The government has defended the ₹52,878 crore IDBI Bank stake sale to Fairfax, saying the reserve price was not changed in round two. The Finance Ministry says the revised process fetched a higher bid of ₹3,917 crore, while the tax indemnity risk is only ₹627 crore. Govt and LIC keep 15% and 19%.