Fairfax India invests ₹2,000 crore in IIFL Capital. Canadian billionaire Prem Watsa's investment firm has agreed to inject ₹2,000 crore into IIFL Capital Services through a preferential share allotment at ₹350 per share, representing a 6% premium to the previous closing price. This transaction will increase Fairfax's combined stake to 41.8%, with plans to reach a minimum of 51% over time, making it a promoter of the financial services company. The preferential allotment of 5.71 crore shares will raise FIH Mauritius Investments' holding from 27.18% to 38.47%. Fairfax gains the right to nominate two non-executive directors to the board as long as its shareholding remains at least 20%. The move reflects Fairfax's confidence in IIFL Capital's business model and comes amid intensifying competition in India's brokerage and wealth management sector.
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