Fairfax India raises IIFL Capital Holding to 38.04%

New Delhi:Fairfax India Holdings Corporation, through its affiliate FIH Mauritius Investments Ltd (FIHM), has acquired additional 11.22 per cent stake in IIFL Capital for Rs 2,000 crore. IIFL allotted 57,142,857 equity shares to FIHM on November 4, 2026 for Rs 350 per share aggregating to Rs 2,000 crore, IIFL Capital said in a regulatory filing.

Following the preferential allotment, Fairfax India Holdings Corporation's stake in IIFL Capital has increased to 38.04 per cent from 26.82 per cent.

"In terms of Regulation 22(2A) of SEBI (SAST) Regulations, the subscription shares allotted under this preferential issue will not have any voting rights until the completion of the open offer and will be held under a separate share escrow account (i.e. demat escrow) as required under the SEBI (SAST) Regulations," it said.

The Competition Commission of India (CCI) in September cleared Fairfax India Holdings Corporation's proposal to acquire an additional stake in IIFL Capital Services. FIHM is a Mauritius-based private company engaged in investment holding, with a focus on long-term capital appreciation and preservation through investments in equity and debt securities in India. It holds a global business licence and has no other business activities. FIHM is wholly owned by Fairfax India Holdings Corporation, a company listed in Toronto, whose ultimate parent is Fairfax Financial Holdings Ltd, a Canadian holding company engaged in property and casualty insurance, reinsurance and investment management across several countries, including India.

The government on October 14 approved the sale of a 60.72 per cent stake in IDBI Bank to Fairfax Financial Holdings for about Rs 53,000 crore (USD 5.5 billion), in what would be the largest foreign investment in an Indian bank and a major milestone in the country's long-delayed banking privatisation drive.

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The Hans India