Page 2 - Fairfax

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

NCML to invest Rs 506 cr in grain silos in India, IFC to back the project

NCML will develop these grain silos at seven locations in Punjab, Haryana and Uttar Pradesh under a 32-year concession agreement awarded by FCI

CSB Bank's profit rises 179% to Rs 68.9 crore in second quarter

CSB Bank amended terms of investment agreement with Fairfax to align with Articles of Association of bank.

After Fairfax investment and listing, CSB Bank eyes business expansion

While many banks are still struggling with cost overruns and missed deadlines, resulting cost reduction pressures, CSB is employing solutions for regaining profitability at a post-crisis level

32 firms show interest in redevelopment of four railway stations

Nagpur, Gwalior, Amritsar, Sabarmati may see Rs 1,300-crore investment

Fairfax India foresees delay in Bangalore Airport expansion due to Covid-19

First phase of the Terminal-2 expansion likely to be completed six months beyond schedule, cost escalation seen

Fairfax India net loss widens as Covid-19 impacts mkt price of investments

The loss of $253 million was partially offset by recovery of a previously accrued performance fee of $47.1 million

Fairfax-backed BIAL plans to invest around $2.2 billion on new projects

In 2018, BIAL invested around $1.9 billion to expand its designed capacity of 20 million passengers to about 50 million in 2021.

Worst may be behind us, signs of turnaround visible in economy: Prem Watsa

High reservoir levels and soil moisture levels point to a good rabi harvest that could cool inflation and revive consumer demand

Fairfax India completes equity infusion in Sanmar Group, takes stake to 43%

Under the deal, Sanmar bought back bonds worth Rs 1,990 crore that had sold to Fairfax, which partly re-invested the proceeds into the chemical-making group's equity

Fairfax-backed CSB Bank IPO subscribed 87 times so far on final day

Given the huge oversubscription, the IPO is likely to be priced at the upper end of its price band of Rs 193-195 per share

CSB Bank announces launch of Rs 410-crore IPO, price band at Rs 193-195

The leading managers for the issue are Axis Capital and IIFL Securities

Fairfax offloads 4.9% stake in ICICI Lombard for Rs 2,627 crore

FAL Corporation, a subsidiary of Canada-based Fairfax, sold 22 million shares at Rs 1,178 apiece via block deals, the data provided by stock exchanges showed

Fairfax Financial Holdings sells 5% in ICICI Lombard for Rs 2,562 crore

This comes after the insurance regulator, earlier this month, relaxed the five-year lock-in rule for Fairfax's stake in ICICI Lombard, which was scheduled to end in March 2021

Fairfax starts infusion in Catholic Syrian Bank, forks out Rs 4.40 bn

This is the first deal in which a foreign investor is taking up a majority stake in a private bank after the RBI tweaked ownership norms in May 2017

Fairfax to hike stake in Sanmar to 43% by the first half of 2019

Fairfax to extinguish $388 mn in bonds and interest in March 2019 and use half the proceeds to increase its stake in Sanmar

Fairfax India to pick up 51% stake in Catholic Syrian Bank for Rs 12 bn

Canadian investor Prem Watsa's Fairfax's Indian arm Fairfax India Holdings to pick up a 51 per cent stake in Kerala-based Catholic Syrian Bank (CSB) for around Rs 12 billion.Bank's Board today approved Fairfax's proposal and both the parties are expected to sign an agreement next week.Bank's Chairman T S Anantharaman has confirmed the development and said Fairfax India Holdings Corporation has formally indicated its continued interest in investing 51 per cent in the share capital of the Bank at a mutually agreed price of Rs 140 per share."The investment is subject to customary closing conditions, such as completion of required legal documentation and receipt of all applicable board, shareholder and regulatory approvals, including the approval of the Reserve Bank of India and the Competition Commission of India," he said .It may be noted, last year Fairfax said that was ready to invest upto Rs 10 billion in CSB for 51 per cent stake, but the deal did not happen due to valuation ...

Digit plans synergy with Fairfax to beat competition

Fairfax Holdings holds 45 per cent stake in Digit and Kamesh Goyal-led Indian investors hold the rest

Fairfax completes acquisition of BIAL shares

Pays Rs 2,522 crore to buy 38% stake in India's third-largest airport operator