{"id":6327,"date":"2021-12-01T20:20:27","date_gmt":"2021-12-01T14:50:27","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-iifl-finance\/"},"modified":"2021-12-01T20:20:27","modified_gmt":"2021-12-01T14:50:27","slug":"biz-iifl-finance","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-iifl-finance\/","title":{"rendered":"Fairfax sells 3.2 per cent stake in IIFL Finance for Rs 365 cr"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-904830498\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>New Delhi, Dec 1 (PTI) Canadian billionaire Prem Watsa-backed Fairfax Group on Wednesday divested 3.2 per cent stake in IIFL Finance\u00a0for Rs 365 crore through an open market transaction. \u00a0 \u00a0 \tAccording to bulk deal data available with the BSE,\u00a0Hamblin Watsa Investment Counsel (HWIC) Asia Fund, an affiliate of Fairfax Financial Holdings, sold\u00a012,165,000 shares of\u00a0IIFL Finance, amounting to 3.2 per cent stake. \u00a0 \u00a0  \t The shares were offloaded at Rs 300.04 apiece, valuing the transaction size at Rs 365 crore. \u00a0 \u00a0  \t Meanwhile,\u00a0Smallcap World Fund Inc picked up 1 crore shares of\u00a0IIFL Finance at Rs 300 apiece for an aggregate amount of Rs 300 crore. \u00a0 \u00a0 \u00a0 \t The scrip of IIFL Finance settled at Rs 316.25 on the BSE, up 2.36 per cent from the previous close.\u00a0 \u00a0 \u00a0 \u00a0 \t As of September 2021, HWIC Asia Fund held 7.48 per cent stake in\u00a0IIFL Finance, FIH Mauritius Investments, a subsidiary of Fairfax, owned 22.32 per cent stake in the company, while Smallcap World Fund Inc owned 1.61 per cent shareholding in the company. \u00a0 \u00a0 \u00a0 \t IIFL Finance (erstwhile IIFL Holdings) is one of the leading players in the financial services space in india. Together with its subsidiaries &#8212; IIFL Home Finance and Samasta Microfinance &#8212; it provides a diverse range of loans and mortgages. \u00a0 \u00a0 \u00a0 \t These include home loans, gold loans, business loans including loans against property and medium &#038; small enterprise financing, micro finance, developer &#038; construction finance and capital market finance; catering to both retail and corporate clients. PTI SP \t   ANU ANU<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1641710882\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<div class=\"trade-after-content\" id=\"trade-4276720381\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Dec 1 (PTI) Canadian billionaire Prem Watsa-backed Fairfax Group on Wednesday divested 3.2 per cent stake in IIFL Finance\u00a0for Rs 365 crore through an open market transaction. \u00a0 \u00a0 According to bulk deal data available with the BSE,\u00a0Hamblin Watsa Investment Counsel (HWIC) Asia Fund, an affiliate of Fairfax Financial Holdings, sold\u00a012,165,000 shares of\u00a0IIFL [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1698,31],"tags":[],"class_list":["post-6327","post","type-post","status-publish","format-standard","hentry","category-commodities","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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