Fairfax India Holdings Corporation, through its subsidiary FIH Mauritius Investments Ltd, will increase its stake in IIFL Capital Services Ltd to a minimum of 51% via a preferential allotment and an open offer. The transaction involves a primary capital infusion of ₹2,000 crore at ₹350 per share. Upon completion, Fairfax India and its affiliate, HWIC Asia Fund Class A, will join the Promoter Group alongside existing promoters Mr. Nirmal Jain and Mr. R. Venkataraman. Fairfax India, an existing investor, currently holds approximately 30.5% in IIFL Capital. The company anticipates that this capital infusion will significantly strengthen its balance sheet, supporting growth across its diverse financial services businesses, including capital markets, wealth management, and investment banking. Mr. Prem Watsa, Founder of Fairfax India, expressed confidence in the partnership and IIFL Capital's future growth prospects. Mr. Nirmal Jain and Mr. R. Venkataraman highlighted the long-standing trust and shared values in the relationship with Fairfax, emphasizing that this is an opportune moment for IIFL Capital to leverage strong parentage for its next growth phase.
