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Indian Government is the clear winner in the IDBI stake sale of roughly 60 percent to Canadian company Fairfax, run by Indian origin Prem Wasta. Fair valuation came around 76 Rs per share, market price was around 95 Rs per share and government sold it for 81 Rs per share. Here are the reasons why I think Indian Government made a good deal: Voting is permanently capped at 26%. Economic majority does not equal voting control. Government + LIC residual will hold 34% which can still block special resolutions. Forced dilution over 15 years which means Fairfax will have to sell down later; uncertain pricing and potential overhang is the real risk for Fairfax. CSB Bank conflict must be resolved (merge or exit) within two years. Neither option is clean or guaranteed to be value accretive. Management control is real on the board, but shareholder voting power is constrained, and culture/employee resistance from the old PSU structure remains a practical risk. In nutshell Government exits cleanly with cash and residual upside. Fairfax gets a reasonably priced platform with control of operations, but not full voting control and with regulatory strings attached. The structure is deliberately asymmetric in the government’s favour on governance rights.