Fairfax Financial likely to exit IIFL Finance, sources say
Canada's Fairfax Financial Holdings intends to divest its nearly 11% stake in IIFL Finance soon. The sale aims to raise funds for acquiring a significant stake in IDBI Bank from the Indian government. Fairfax's current share in IIFL Finance is valued at approximately 30 billion rupees, or $320 million. Additionally, Fairfax is attempting to improve its...
Key Takeaways
- Canada's Fairfax Financial Holdings intends to divest its nearly 11% stake in IIFL Finance soon.
- The sale aims to raise funds for acquiring a significant stake in IDBI Bank from the Indian government.
- Fairfax's current share in IIFL Finance is valued at approximately 30 billion rupees, or $320 million.
Canada's Fairfax Financial Holdings intends to divest its nearly 11% stake in IIFL Finance soon. The sale aims to raise funds for acquiring a significant stake in IDBI Bank from the Indian government. Fairfax's current share in IIFL Finance is valued at approximately 30 billion rupees, or $320 million. Additionally, Fairfax is attempting to improve its stake in IIFL Capital through an open offer.
Original Publisher Attribution
This summary was curated from Economic Times.