Archive · 23 Sep 2026
CCI Clears Fairfax India Bid for Additional IIFL Capital Stake
India’s competition regulator approved a plan involving Fairfax India and IIFL Capital Services.
Fairfax India will use its Mauritius-based affiliate, FIH Mauritius Investments Ltd, to buy more shares.
Some shares will be newly issued by IIFL Capital Services.
Other shares may be bought from public shareholders through an open offer.
The affiliate may also buy shares from the company’s promoters if needed.
Fairfax India is an investment company listed in Toronto.
IIFL Capital Services offers financial services such as stockbroking and wealth management.
The approval is required because large business deals can affect competition.
The Competition Commission of India cleared Fairfax India’s proposal to acquire an additional stake in IIFL Capital Services.
Fairfax India will invest through its wholly owned affiliate, FIH Mauritius Investments Ltd.
The transaction includes a preferential issue of fresh shares and purchases from public shareholders under a mandatory open offer.
FIH Mauritius Investments may also buy shares from IIFL Capital’s promoters if its target ownership is not reached.
IIFL Capital Services provides wealth management, investment banking, broking, institutional equities and research services in India.
- Who
- The Competition Commission of India, Fairfax India Holdings Corporation through FIH Mauritius Investments Ltd, and IIFL Capital Services Ltd.
- What
- The CCI approved Fairfax India’s proposal to acquire additional equity in IIFL Capital Services.
- When
- Tuesday, according to the report.
- Where
- The transaction concerns companies operating and investing in India, with the acquiring affiliate based in Mauritius.
- Why
- The proposal required competition-regulator approval because it involves an acquisition above the applicable threshold.
- Regulator
- Competition Commission of India
- Acquirer
- FIH Mauritius Investments Ltd, wholly owned by Fairfax India Holdings Corporation
- Target
- IIFL Capital Services Ltd
- Transaction structure
- Preferential subscription of fresh shares and purchases under a mandatory open offer
- Possible additional purchase
- A secondary purchase from IIFL Capital’s promoters if the intended ownership level is not reached
- Fairfax India listing
- Fairfax India Holdings Corporation is listed in Toronto
- IIFL services
- Wealth management, investment banking, broking, institutional equities, research and financial-product distribution