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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%.