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The open offer follows Fairfax India’s Rs 2000 crore investment in IIFL Capital to raise its holding to 38.47% from 27.18%.
The open offer price is fixed at Rs 350 per share for around 10 crore fully paid-up equity shares of face value of Rs 2 of IIFL Capital Services.
Canadian Billionaire Prem Watsa‘s Fairfax is making the investment through a wholly owned subsidiary FIH Mauritius Investments. HWIC Asia Fund, a Mauritius based fund is a co-investor.
Existing promoters held 30.87% at the end of March with founder Nirmal Jain and his wife Madhu Jain together holding 18.88%.
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https://economictimes.indiatimes.com/markets/stocks/news/fairfax-india-makes-open-offer-to-buy-additional-26-in-iifl-capital-services/articleshow/131188168.cms
