te Fairfax Financial pares 5.7% stake in IIFL Finance worth Rs 1,198 crore | Zee Business

Fairfax Financial pares 5.7% stake in IIFL Finance worth Rs 1,198 crore

According to the bulk deal data available with the BSE, FIH Mauritius Investments offloaded 2,16,02,000 crore shares, representing a 5.7 per cent stake in IIFL Finance Ltd.

Fairfax Financial pares 5.7% stake in IIFL Finance worth Rs 1,198 crore
Shares of IIFL Finance declined 3.86 per cent to close at Rs 572.60 apiece on the BSE. Logo: Official Website

Canadian billionaire Prem Watsa's Fairfax Group divested a 5.7 per cent stake in IIFL Finance for Rs 1,198 crore through an open market transaction. Fairfax Group through its affiliate FIH Mauritius Investments Ltd have sold the shares of IIFL Finance Ltd.

According to the bulk deal data available with the BSE, FIH Mauritius Investments offloaded 2,16,02,000 crore shares, representing a 5.7 per cent stake in IIFL Finance Ltd.

The shares were disposed of at an average price of Rs 554.64 apiece, taking the transaction value to Rs 1,198.13 crore.

TRENDING NOW

After the latest transaction, FIH Mauritius Investments' shareholding had declined to 15.2 per cent from 20.90 per cent in IIFL Finance.

Meanwhile, Nomura India Investment Fund Mother Fund acquired more than 26.20 lakh shares of IIFL Finance at an average price of Rs 551.01 per share, taking the deal size to Rs 144.39 crore, as per the data.

Shares of IIFL Finance declined 3.86 per cent to close at Rs 572.60 apiece on the BSE.

Written By: PTI
Updated: Sat, Dec 23, 2023
08:34 am
PTI

By accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

x