Fairfax Eyes Majority Risk in IIFL Resources Provider
Fairfax India Holdings Corp plans to raise its risk in IIFL Resources Solutions to 51 % from 30 5 % through a Rs 2, 000 crore (around $ 240 million USD) resources infusion at Rs 350 per share, according to a current announcement.
- The deal entails a special allotment of equity shares, an open offer, and setups with existing promoters.
- Fairfax India, via FIH Mauritius Investments Ltd, will certainly join the promoter team together with Nirmal Jain and R Venkataraman.
- IIFL Funding shares experienced a 4 % surge on the BSE following the information.
- The transaction is subject to regulative and shareholder authorizations.