Canadian billionaire Prem Watsa-backed Fairfax Group has sold a 5.9 per cent stake in IIFL Securities for Rs 118 crore through open market transactions. Hamblin Watsa Investment Counsel (HWIC) Asia Fund, an affiliate of Fairfax Financial Holdings, offloaded shares of IIFL Securities in two transactions on NSE and BSE.
As per the block and bulk deal data available with the NSE and BSE, Hamblin Watsa Investment Counsel A/C HWIC Asia Fund Class A Shares offloaded 1.20 crore shares on NSE and 60 lakh shares on BSE, amounting to a 5.9 per cent stake in IIFL Securities.
The shares were disposed of in the price range of Rs 65.45-65.67 apiece, taking the combined transaction value to Rs 117.94 crore. Post the transaction, Fairfax's shareholding in IIFL Securities declined to 3.38 per cent from 9.28 per cent at the end of June quarter.
IIFL Securities operates as an investment management company. The company offers insurance, loans, mutual funds, property solutions, and wealth management services.
Company Name | CMP |
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Bajaj Finserv | 1590.60 |
Paul Merchants | 898.00 |
Data Infrastructure | 140.10 |
IIFL Finance | 401.00 |
Embassy Office Parks | 355.98 |
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