Fairfax

Dubai-headquartered bank Emirates NBD is willing to shell out $6-7 billion in an all-cash deal for a 61 percent stake in IDBI Bank, Moneycontrol has learnt. This emerged after an informal conversation between DIPAM and potential bidders over valuation for IDBI Bank’s divestment.

Bengaluru Airport back in the black with net profit of Rs 510 crore

In FY25, revenue of the South India's busiest airport, backed by Canadian billionaire Prem Watsa, grew 43 percent to Rs 3,732 crore

Tamil Nadu CM meets Fairfax, BIAL officials as Hosur airport plan gathers pace

Tamil Nadu Chief Minister MK Stalin met Fairfax Financial Holdings founder and CEO Prem Watsa and BIAL CEO Hari Marar on April 28.

Canadian billionaire Prem Watsa’s Fairfax India to acquire additional 10% stake in Bengaluru airport

Fairfax's stake in Bangalore International Airport Ltd will increase to 74 percent. The deal is expected to be completed by the first quarter of 2025

Fairfax likely frontrunner for IDBI Bank stake acquisition

The central bank is said to have cleared the names of potential investors for IDBI Bank, with Fairfax India Holdings possibly emerging as the frontrunner to acquire a 60.7% stake. The fate of the other two bidders is unclear.

Fairfax India Holdings unit sells 9.7% stake in CSB Bank for $70 million

The proceeds of the sale amounted to 5.9 billion rupees ($70.7 million) in gross terms, Fairfax India said in a release.

Go Digit's Kamesh Goyal says, 'We took investor feedback to decide the IPO price, hope to give them value'

On the reduced issue size, the Chairman said the company's requirement for capital went down as it raised non-convertible debentures worth Rs 200 crore in December last year.

IRDAI slaps Rs 1 crore penalty on IPO-bound Go Digit General Insurance

As per the regulator, Go Digit had failed to disclose a change in the conversion ratio of compulsorily convertible preference shares issued by its holding company — Go Digit Info Works Services (GDISPL)— to Fairfax Group-owned FAL Corporation.

Fairfax Financial refutes Muddy Waters' allegations, affirms strong financials

Prem Watsa, Chairman and CEO of Fairfax, rejected all accusations presented in the Muddy Waters report, labeling them as false and misleading.

Quess used by Prem-Watsa owned Fairfax Financial to manipulate profit: Activist investment firm Muddy Waters

Prem Watsa, known as the Warren Buffett of Canada, is the founder of Fairfax Financial Holdings. Fairfax has been increasing stakes in Indian companies, prominent among them apart from Quess Corp are Thomas Cook and Bangalore International Airport.

Fairfax fully committed to Bengaluru airport investment, says BIAL CEO Hari Marar

Retained earnings reinvested in airport development; dividends distributed only twice in the last 15 years, says BIAL CEO Hari Marar

IIFL Finance fully repays $400 million bonds

The retail focused non-bank had raised the money as part of its medium-term note programme in February 2020.

Fairfax mulls BIAL IPO at $3.7 billion valuation as soon as next year: Report

The Indian arm of Canadian investment group Fairfax Financial Holdings Ltd. is working with an adviser on the potential listing that could take place as soon as next year

Advanced DNA testing helps identify remains of teen who disappeared in 1975

Patricia Agnes Gildawie was last seen in the city of Fairfax, Virginia on February 8, 1975. In September 2001, her skeletal remains were found by a construction crew.

Fairfax-backed Go Digit Insurance to file IPO DRHP this week, say sources

The Go Digit Insurance IPO is likely to be comprised of both fresh issue and Offer-For-Sale (OFS).

Fairfax-backed IIFL Finance looks to sell stake in Housing Finance unit

Canadian billionaire Prem Watsa-backed Fairfax Group and the UK government’s development finance institution CDC Group plc are key investors in IIFL Finance, holding 22.3 percent stake and 7.7 percent stake, respectively. With over 2,563 branches, IIFL Finance and its subsidiaries, IIFL Home Finance Limited and Samasta Microfinance, are focussed on retail lending.

IIFL Wealth says it with business model shift. Will the stock fire?

While the market opportunity is huge and likely to grow in sync with India’s economic growth and rising income/wealth levels in the economy, there are more reasons to consider IIFL Wealth

Digit Insurance becomes first unicorn of 2021 with $1.9 billion valuation

Digit Insurance achieved the $1 billion plus valuation (Rs 14,050 crore to be exact) in three years of operations after existing investors pumped in Rs 135 crore of additional capital in January 2021.

CBI to look into Fairfax detective's Bofors allegations

Hershman, who is the president of the US-based private detective firm Fairfax, claimed in television interviews recently that Rajiv Gandhi was "furious" when he had found a Swiss bank account "Mont Blanc".

Fairfax sells 12% in ICICI Lombard to Warburg for Rs 2,473 cr

ICICI Lombard General Insurance today said its foreign partner Canada-based Fairfax has offloaded part stake of 12.18 percent to a clutch of investors, including Warburg Pincus, for Rs 2,473 crore.

ICICI Lombard shortlists 3 PE funds for 35% stake sale

The country's largest private sector insurer, ICICI Lombard is a joint venture between ICICI Bank and Prem Watsa's Fairfax Financial Holdings.

Fairfax in talks to buy controlling stake in Camlin Fine: Srcs

Sources tell CNBC-TV18 that Fairfax is in advanced talks to buy controlling stake in Camlin Fine Sciences. It is likely that Fairfax may acquire Camlin Fine Sciences via its investee company ADI Finechem.

Fairfax to invest USD 300 mn in Sanmar Chemicals

Investment firm Fairfax India willacquire 30 per cent stake in Chennai-based Sanmar Chemicals Group for an investment of USD 300 million (about Rs 2,000 crore).

Fairfax Financial to raise $536.42 mn via equity issuance

The offering of one million shares, which is being run as a bought deal - with the underwriters BMO Capital Markets, CIBC Capital Markets and RBC Capital Markets guaranteeing Fairfax a price of CUSD 735.00 per subordinate voting share, is expected to close on March 2.

Fairfax proposal to buy 26% in IIFL gets CCI nod

Under the deal, announced in July, Fairfax would purchase an additional 26 percent shareholding in IIFL through an open offer. In a tweet today, Competition Commission of India (CCI) said it has approved "acquisition of up to 26 percent of equity shares of IIFL Holdings Ltd by Fairfax".