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Fairfax affiliate sells IIFL Finance shares worth Rs 313 crore

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

Fairfax Financial Holdings | IIFL | financial market

Press Trust of India  |  New Delhi 

Fairfax, ICICI Lombard, Warburg Pincus
File Photo: Reuters

An affiliate of on Thursday offloaded shares worth nearly Rs 313 crore in Finance through an open market transaction.

According to bulk deal data available with the NSE, Hamblin Watsa Investment Counsel (HWIC) Asia Fund sold over 1.04 crore shares of Finance at an average price of Rs 300.17 apiece.

The transaction took the total transaction size to Rs 312.79 crore.

Through another transaction, Smallcap World Fund Inc picked up 35.61 lakh shares of Finance at Rs 300 apiece, translating into a deal value of Rs 106.85 crore.

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.

As of September 2021, HWIC Asia Fund held 7.48 per cent shares in IIFL Finance, FIH Mauritius Investments, a subsidiary of Fairfax, owned 22.32 per cent, while Smallcap World Fund Inc had 1.61 per cent shareholding in the company.

On NSE, shares of IIFL Finance Ltd on Thursday settled at Rs 307.95, down 0.15 per cent from the previous close.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Thu, December 09 2021. 21:45 IST