Page 2 - Fairfax

Prem Watsa-backed Fairfax Group sells IIFL Finance shares worth Rs 180 cr

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

Prem Watsa-backed Fairfax sells 3.2% stake in IIFL Finance for Rs 365 crore

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

AAI to offload residual stake in Bangalore and Hyderabad airports

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

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