Fairfax India Holdings is to increase its stake to 26% in IIFL Holdings for $225mn through a share tender offer. The company will also raise $200m by issuing new shares at an initial public offering (IPO) of the company.
Fairfax India Holdings is to increase its stake to 26% in IIFL Holdings for $225mn through a share tender offer. Fairfax India's Mauritius unit will buy about 83 million shares of IIFL at 195 rupees each, a premium of 3.6% over the Indian firm's close price on Monday.