Fairfax sells 9.72% in CSB Bank for Rs 595 crore

Indian-born Canadian billionaire Prem Watsa’s Fairfax Group sold a 9.72% stake in CSB Bank on Thursday through block deals, raising about Rs 595 crore. According to NSE bulk deals data, FIH Mauritius Investments, an entity of Fairfax Group, sold 1.68 crore shares in the Kerala-based bank at 352.4 per share. Amansa Holding bought shares worth 292 crore, while other buyers included ICICI Prudential MF, Ashoka India Fund, and Abu Dhabi Investment Authority. FIH held a 49.72% stake in the bank as of March 31, 2024, which fell to 40% post the stake sale.s