Fairfax Eyes Majority Stake in IIFL Funding Services
Fairfax India Holdings Corp prepares to raise its risk in IIFL Resources Providers to 51 % from 30 5 % via a Rs 2, 000 crore (around $ 240 million USD) capital infusion at Rs 350 per share, according to a recent announcement.
- The offer entails an advantageous part of equity shares, an open offer, and setups with existing marketers.
- Fairfax India, through FIH Mauritius Investments Ltd, will sign up with the promoter group alongside Nirmal Jain and R Venkataraman.
- IIFL Resources shares experienced a 4 % surge on the BSE complying with the news.
- The transaction undergoes regulative and investor authorizations.
