Fairfax Eyes Majority Risk in IIFL Capital Provider
Fairfax India Holdings Corp plans to raise its stake in IIFL Funding Solutions to 51 % from 30 5 % via a Rs 2, 000 crore (approximately $ 240 million USD) funding mixture at Rs 350 per share, according to a current statement.
- The deal involves a special part of equity shares, an open offer, and arrangements with existing marketers.
- Fairfax India, through FIH Mauritius Investments Ltd, will join the marketer team together with Nirmal Jain and R Venkataraman.
- IIFL Capital shares experienced a 4 % rise on the BSE adhering to the information.
- The transaction goes through governing and shareholder authorizations.