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In FY25, revenue of the South India's busiest airport, backed by Canadian billionaire Prem Watsa, grew 43 percent to Rs 3,732 crore
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Though there is no clear link between the sale of shares and the RBI action, a proxy adviser has called the move 'odd' and another said the market regulator should look into the reason behind investors' trimming stakes
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Prem Watsa, Chairman and CEO of Fairfax, rejected all accusations presented in the Muddy Waters report, labeling them as false and misleading.
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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.
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Retained earnings reinvested in airport development; dividends distributed only twice in the last 15 years, says BIAL CEO Hari Marar
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Ajay Banga, Satya Nadella and Shantanu Narayen are all former students of the Hyderabad Public School.
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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
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Though the bank’s operational performance is satisfactory and it has a well-crafted growth strategy, merger possibility is weighing on the stock’s performance
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Shriram was amongst 18 participants that attended virtual roadshows organised by the government in April to brief suitors about the privatisation plan.
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The Securities and Exchange Board of India (SEBI) put Canadian billionaire Prem Watsa-backed Digit Insurance IPO’s in "abeyance" earlier this month, saying certain observations had been issued, but did not elaborate.
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IDBI Bank’s ownership can be a shot in arm for Fairfax’s banking ambitions as the former is ten times the size of CSB Bank in terms of asset base
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As per the draft documents, the company is looking to raise Rs 1,250 crore from a fresh issue of shares and through an Offer for Sale of 10.94 crore equity shares for an undisclosed amount
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Total income during the first quarter rose to Rs 590.78 crore from Rs 571.53 crore in the year-ago quarter, the CSB Bank said in a regulatory filing.
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Fairfax already has a controlling stake in Kerala-based CSB Bank
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Watsa received just 50.7% support at the Canadian software company’s annual meeting on Wednesday. That means, excluding the 46.7 million shares controlled by Watsa’s Fairfax Financial Holdings Ltd., shareholders representing a majority of the votes at the meeting opposed him.
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Billionaire investor Prem Watsa is excited about the India opportunity, and believes that it will remain a favourable place for foreign investments. Despite the current slowdown in global markets and hiking of interest rates by central banks globally, Watsa does not see a need to ring alarm bells as yet. In an exclusive interview with Moneycontrol's Chandra R Srikanth and Priyanka Iyer in Bengaluru, Watsa said that the current boom in India's startup industry will open up more avenues and create a level playing field for all those with a drive for entrepreneurship. India saw 44 unicorn startups emerge in just 2021, the highest ever in a year that witnessed a massive surge in investments. At the same time, Digit insurance founder Kamesh Goyal spoke about the growth ahead and the opportunity in EVs
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Indian-Canadian billionaire Watsa's Fairfax Financial Holdings has investments in a number of Indian companies including general insurance startup Digit which is currently valued at $3.5 billion.
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"We say, jokingly, that our strategic plan is to wait for that telephone to ring," says Prem Watsa in interview
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While Q3 FY22 was a strong quarter for CSB Bank, investors would want to know what will drive its future growth and earnings
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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.
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Given the strong parentage of the Fairfax group, more than adequate capital, relatively better asset quality and high provisioning, we see CSB Bank continuing to grow its loan book at a healthy pace and and improve its return ratios in the medium term
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While CSB’s overall loan growth was a healthy 22 per cent YoY in Q3, gold loans increased by a whopping 60 per cent YoY
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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.
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CSB Bank, an old private sector lender, is reporting strong earnings growth and valuation looks reasonable
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CSB Bank aims to transform itself into a new-age lender with wider presence
