IIFL Finance Block Deal: Fairfax Reportedly Sells 5%, Acquired by Long-Only Funds – Exclusive

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IIFL Finance Block Deal: Fairfax Reportedly Sells 5%, Acquired by Long-Only Funds – Exclusive

Fairfax, owned by Prem Watsa, is reported to be the seller in the recent block deal involving IIFL Finance, according to sources familiar with the transaction. The block deal, valued at ₹1,358 crore, saw 2.4 crore shares (6.5% of the total equity) of IIFL Finance change hands at ₹555 per share. Fairfax, currently holding a 20.89% stake, is believed to have sold 5.2% in this transaction. It is indicated that Fairfax remains committed to retaining the remaining 15%, while long-only funds and domestic investors are presumed to be the buyers in this block deal. IIFL Finance's shares have declined for the third consecutive day, trading at ₹565.8, marking a 5% decrease and a 14% decline over the last three sessions. Despite recent setbacks, the stock has gained 19% in 2023. (Edited by: Hormaz Fatakia)


Disclaimer: This is pure understanding of Gyaanleikh team, and we don't allow you to rely on the same.

IIFL Finance block deal
Fairfax stake sale
Prem Watsa ownership
Block deal value
IIFL Finance share price
Long-only funds





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