Hyderabad-born industrialist Prem Watsa is set to acquire IDBI Bank. Watsa, who traveled to Canada with just eight dollars, will now become the owner of the bank, valued at 52,000 crore rupees.
Prem Watsa emigrated to Canada in the 1970s. He built his business empire there, earning him the nickname "Canada's Warren Buffett."
He leads Fairfax Financial Holdings, a company with a valuation of 100 billion dollars.
Fairfax began as a small insurance company in 1985. Under Prem Watsa's business acumen, foresight, and discipline, it grew into a major financial institution.
