Canadian company Fairfax Financial Holdings is set to buy a 60.72 per cent stake in IDBI Bank for approximately Rs 52,878 crore ($5.5 billion). The deal would mark the largest foreign investment in an Indian bank to date. Under the transaction, the government will sell its 30.48 per cent stake for approximately Rs 26,620 crore, while the Life Insurance Corporation of India (LIC) will divest its 30.24 per cent stake for around Rs 26,440 crore.