Private Equity

Liquidity Events

Fairfax looks to completely exit from IIFL Finance

Economic Times  

Fairfax Financial Holdings is exploring the sale of its entire stake in Mumbai-based, publicly listed IIFL Finance as it prepares for the acquisition of IDBI Bank. The Prem Watsa-founded Canadian firm is currently in discussions with several private equity investors, including Blackstone, regarding the potential divestment.Fairfax held a 15.2% stake in IIFL as of June 30. The firm plans to offload its holding to comply with regulatory requirements as it progresses with its bid for IDBI Bank. This move is part of a broader strategy by Fairfax to consolidate its Indian lending investments, which includes a 40% stake in CSB Bank, following the acquisition of the bank.

Fairfax Holdings first invested in IIFL Finance in Dec 2015. It subsequently sold shares in Jun 2023, Dec 2023 and Jul 2026.For FY26, IIFL Finance had reported about INR 7,448 Cr in Operating Income and about INR 1,153 Cr in PAT.