Fairfax India makes open offer to buy additional 26% in IIFL Capital Services

Kolkata: Fairfax India Holdings Corporation on Monday made an open offer to buy an additional 26% stake in IIFL Capital services.

The open offer follows Fairfax India's Rs 2000 crore investment in IIFL Capital to raise its holding to 38.47% from 27.18%.

The open offer price is fixed at Rs 350 per share for around 10 crore fully paid-up equity shares of face value of Rs 2 of IIFL Capital Services.


Canadian Billionaire Prem Watsa's Fairfax is making the investment through a wholly owned subsidiary FIH Mauritius Investments. HWIC Asia Fund, a Mauritius based fund is a co-investor.

Existing promoters held 30.87% at the end of March with founder Nirmal Jain and his wife Madhu Jain together holding 18.88%.