bfsi.economictimes.indiatimes.com

Fairfax to Sell IIFL Finance Stake Before Possible IDBI Bank Deal

IIFL Finance logoIIFL Finance
Sig2.85Sen+0.50Env0.00Soc0.00Gov+0.65
IDBI Bank logoIDBI Bank
Sig3.72Sen+1.58Env0.00Soc0.00Gov+0.67

Fairfax held a 15.2% stake in IIFL Finance as of June 30, valuing the holding at about $2.9 billion, and is considering selling its entire stake to global investment companies. The stock was also down in Mumbai trading. The exit is linked to Fairfax’s potential acquisition of IDBI Bank, which could trigger consolidation of its Indian lending holdings and bring IIFL Capital under a wholly owned subsidiary.

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