Fairfax

Fairfax India to get addl 10% stake in Bengaluru airport operator BIAL

Fairfax India Holdings will buy an additional 10 per cent stake in Bengaluru airport operator BIAL, hiking its overall shareholding to 74 per cent. Bangalore International Airport Ltd (BIAL) is a joint venture between Fairfax India, Airports Authority of India (AAI) and Karnataka State Industrial and Infrastructure Development Corporation Ltd. The latter two entities have 13 per cent stake each. "The transaction is expected to close in Q1 2025, upon which the additional 10 per cent equity interest in BIAL will be acquired by Fairfax India for, in aggregate, USD 255.0 million. The purchase price will be payable in three installments, with the initial installment to be paid on the closing date in Q1 2025," Fairfax India said in a release. The second and third installments are to be paid on or around August 31, 2025 and July 31, 2026, respectively. Fairfax India is acquiring the 10 per cent stake from Siemens Projects Ventures. "We would like to thank Siemens for the great partnershi

Canada-based firm Fairfax offers all-cash deal to acquire IDBI Bank

IDBI Bank's disinvestment process began in October 2022, with LIC and the government selling their respective shares of 30.24% and 30.48%

Fairfax India agrees to give IIFL Finance up to $200 mn liquidity support

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

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

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.

General Motors locks in $6 billion credit line as strike costs rise

GM also shut its midsize Malibu sedan factory in Fairfax, Kansas, during the last week of September, blaming parts shortages caused by the strike

Fairfax sells 5.9% stake in IIFL Securities for Rs 118 cr via open market

Canadian billionaire Prem Watsa-backed Fairfax Group on Wednesday pared a 5.9 per cent stake in brokerage firm IIFL Securities for Rs 118 crore through open market transactions. Hamblin Watsa Investment Counsel Ltd (HWIC) Asia Fund, an affiliate of Fairfax Financial Holdings, offloaded shares of IIFL Securities in two transactions on NSE and BSE. Hamblin Watsa Investment Counsel Ltd A/C HWIC Asia Fund Class A Shares offloaded 1.20 crore shares on NSE and 60 lakh shares on BSE, amounting to a 5.9 per cent stake in IIFL Securities, as per the block and bulk deal data available with the NSE and BSE. The shares were disposed of in the price range of Rs 65.45-65.67 apiece, taking the combined transaction value to Rs 117.94 crore. Post the transaction, Fairfax's shareholding in IIFL Securities declined to 3.38 per cent from 9.28 per cent at the end of June quarter. Meanwhile, Theleme India Master Fund Ltd acquired 80 lakh shares, Zafar Ahmadullah bought 40 lakh shares on the NSE, while

BIAL incurs net loss of Rs 356 crore in FY22 due to Covid-19 impact

The financial performance of BIAL is registering strong growth as passenger volumes in recent months have gone back to pre-Covid levels

Fairfax not exiting Bengaluru airport, has 'no interest' in selling stake

Company-owned by Canadian billionaire responds to a media report about the sale

Sebi puts Fairfax Group-backed Go Digit's IPO in 'abeyance'

Capital markets regulator Sebi has kept in "abeyance" the proposed initial share sale of Canada-based Fairfax Group-backed Go Digit General Insurance Ltd. However, the Securities and Exchange Board of India (Sebi) did not clarify further. Go Digit had filed preliminary IPO papers with the capital markets regulator on August 17. Cricketer Virat Kohli and his wife Anushka Sharma are among the investors in the firm. Going by the draft papers, the company's proposed initial public offering (IPO) comprised fresh issuance of equity shares worth Rs 1,250 crore and an offer for sale of 10.94 crore equity shares by a promoter and existing shareholders. Proceeds from the fresh issuance were to be utilised for the augmentation of the company's capital base and maintenance of solvency levels and general corporate purposes. Without disclosing the reason, Sebi said "issuance of observations (has been) kept in abeyance" with regard to the IPO of Go Digit, an update on the regulator's website sh

Fairfax-backed general insurance firm Go Digit files DRHP for IPO

Unicorn will be first general insurer to be listed on the bourses in five years

Fairfax group-backed Digit Insurance files draft papers for India IPO

India's Digit Insurance, backed by Canadian billionaire Prem Watsa's Fairfax Group, has filed for an initial public offering, papers submitted to the market regulator showed on Tuesday.

Cross-border payment: Four firms complete test in RBI's 2nd sandbox cohort

The four entities are: Cashfree Payments, Fairex Solutions, Nearby Technologies, and Open Financial Technologies

Go Digit promoters Watsa, Goyal seek regulatory nod for reinsurance biz

Currently, India has one domestic reinsurance company, the state-owned General Insurance Corporation (GIC Re)

Airport PPPs on a crowded runway; private sector bids could be subdued

Last August, the government announced intent to sell stakes in four privately-run airports (Delhi, Mumbai, Hyderabad and Bengaluru) and lease 25 other airports owned by AAI under NMP

IIFL Fintech Fund to invest Rs 300 cr in early-stage fintech startups

The move is aimed at facilitating the creation of affordable products and technologies that aid financial inclusion

Prem Watsa-backed Fairfax Group sells IIFL Finance shares worth Rs 180 cr

Canadian billionaire Prem Watsa-backed Fairfax Group on Wednesday offloaded IIFL Finance shares worth over Rs 180 crore through an open market transaction

Prem Watsa-backed Fairfax sells 3.2% stake in IIFL Finance for Rs 365 crore

The scrip of IIFL Finance settled at Rs 316.25 on the BSE, up 2.36 per cent from the previous close

AAI to offload residual stake in Bangalore and Hyderabad airports

Sale of 13% stake in each may fetch Rs 3,000 crore

Fairfax to list Anchorage, its vehicle for airport and other infra funding

Bangalore Airport reports $66.8 million loss against in 2020 against profit of $53.8 million in 2019

Fairfax-backed CSB Bank's PAT rises 89% to Rs 53 cr in Dec quarter

Total deposits grew by 16% YoY and the CASA ratio stood at 30.4% as on December31, 2020 as against 28.6% as on December 31, 2019. Advances (net) grew 22% YoY on the back of a 61% growth in gold loans