Fairfax

Fairfax has moved ahead in the race to buy a majority stake in IDBI Bank, with Kotak Mahindra Bank still in the fray as the government and LIC prepare to finalise bids for the lender's sale

Global e-commerce giant Amazon on Saturday sold shares of business services provider Quess Corp for Rs 46 crore through an open market transaction, while promoter billionaire Prem Watsa promoted Fairfax Capital increased its holding in the company. US-based Amazon, through its investment arm Amazon.com NV Investment Holdings, offloaded 7.54 lakh shares or 0.50 per cent stake in Bengaluru-based Quess Corp, as per the bulk deal data available on the BSE. The shares were disposed of at an average price of Rs 610.20 apiece, taking the transaction value to Rs 46.03 crore. Meanwhile, Fairfax Financial Holdings' affiliate Fairbridge Capital (Mauritius) and Ajit Isaac (Chairman of Quess Corp), the two promoters of Quess Corp, increased their holdings, by picking up an additional 3.77 lakh shares of the company each. "Pursuant to Sebi (Listing Obligations and Disclosure Requirements) regulations, 2015, we would like to inform that Fairbridge Capital (Mauritius) Ltd has purchased 3,77,218 ..

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

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

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.

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

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

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

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

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

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

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.

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

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

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

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

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

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

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