Fairfax Financial Holdings

NBFC's stock falls another 20% after RBI bars it from disbursing gold loans

Canadian billionaire Prem Watsa's Fairfax Group on Friday 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. 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.

Omnichannel travel services firm Thomas Cook (India) Ltd on Tuesday said CRISIL has upgraded its credit rating both in the short- and long-term. "CRISIL has upgraded rating on the bank facilities of Thomas Cook (India) Ltd (TCIL) to 'CRISIL AA-/Stable/CRISIL A1+," TCIL said a statement. The rating upgrade in the long term to 'AA-/Stable' from 'CRISIL A+/Stable' and in the short term to 'CRISIL A1+' from 'CRISIL A1' reflects Thomas Cook India Group's strong scale-up in revenue across businesses and expectations of sustained momentum driven by brisk revival in demand after the pandemic-induced disruptions, according to the company's statement. The ratings are indicative of TCIL's strong business risk profile with leadership position in travel and foreign exchange segments and healthy presence in hospitality (Sterling Holiday Resorts) and digi-photo imaging segments, as per CRISIL Ratings. The company has also improved its financial risk profile following sharp revival in business ...

Canadian billionaire Prem Watsa-backed Fairfax Financial Holdings Ltd (FFHL) has settled with Sebi a case pertaining to alleged violation of mutual fund regulations. Fairfax paid Rs 29.25 lakh as settlement charges to the regulator. The order came after Fairfax proposed to settle the instant proceedings through a settlement order "without admitting or denying the findings of fact and conclusions of law". "The instant proceedings initiated against the applicant (Fairfax) vide show cause notice dated October 8, 2021 is disposed of," Sebi's Whole Time Member S K Mohanty said in the settlement order passed on Wednesday. In March 2018, Sebi amended the MF (Mutual Fund) regulation. Under the rules, the regulator does not allow any entity to hold more than a 10 per cent stake in more than one mutual fund house. It also provided one-year time to sponsors of the mutual funds to comply with norms for shareholding and governance of mutual funds, if they, inadvertently acquire shares or votin

Canadian billionaire Prem Watsa's firm holds over 10% stake in two AMCs

Billionaire Prem Watsa's belief in India's growth story has made him pledge investment worth $7 billion over the next five years. Find out more about 'Canada's Warren Buffett' and his India-plans

The proposed centre, which will be called 'CMC Vellore Paediatric Specialty Centre', will provide leading state-of-the-art paediatric medical and surgical services

IIFL Wealth shares fell 1.2% on Monday, giving the company a market value of around $1.7 billion.

Before this, the fund offloaded IIFL Finance's shares worth Rs 365 crore, while Smallcap had purchased shares worth Rs 300 crore on December 1

NCML will develop these grain silos at seven locations in Punjab, Haryana and Uttar Pradesh under a 32-year concession agreement awarded by FCI

On September 23, Thomas Cook Plc in Britain announced that it is filing for compulsory liquidation with immediate effect

This comes after the insurance regulator, earlier this month, relaxed the five-year lock-in rule for Fairfax's stake in ICICI Lombard, which was scheduled to end in March 2021

It has been a difficult year for Fairfax on its investments across geographies, said Prem Watsa

Lack of procedures, systems and awareness among the departments has been the reasons for the delay

RBI for the first time has allowed a bank to sell its majority stake to a single private investor

An agreement could be announced in the next few weeks, according to one of the people