Fairfax India Completes Subscription of Additional Equity Interest in IIFL Capital Services Limited

Fairfax India Holdings Corporation, through its subsidiary FIH Mauritius Investments Ltd, has completed the subscription of additional equity shares in IIFL Capital Services Limited. The transaction, valued at INR 20 billion (approximately $211 million), increases the combined equity interest of Fairfax India and its affiliate, HWIC Asia Fund, to 40.8%. Fairfax India holds 38.0% of this interest, while HWIC Asia Fund holds 2.8%. The company also confirmed its ongoing commitment to an open offer to acquire up to 26% of IIFL Capital's share capital, with existing promoters agreeing to sell additional shares if necessary to ensure Fairfax India reaches a 51% target shareholding.