Fairfax India Holdings Corporation announces that its wholly-owned subsidiary, FIH Mauritius Investments Ltd., has entered into an agreement to sell 9.8% of its shareholding in IIFL Wealth Management Limited (“IIFL Wealth”) to Bain Capital for INR14.49 billion (approximately $190.8 million at current exchange rates).
Fairfax India Holdings Corporation announces that it will be hosting its annual shareholders’ meeting both in-person and virtually, as originally announced, on Thursday, April 21, 2022. Our expectation is that many of the Presidents of our portfolio companies will be attending the meeting in-person to greet our guests and to answer any questions.
Fairfax India Holdings Corporation announces that, through its wholly-owned subsidiary, it has completed its investment of INR 2.45 billion (approximately $33 million at current exchange rates) for a 70% equity interest in Jaynix Engineering Private Limited (“Jaynix”).
Fairfax India Holdings Corporation announces fiscal year 2021 net earnings of $494.5 million ($3.22 net earnings per diluted share), compared to fiscal year 2020 net loss of $41.5 million ($0.27 net loss per diluted share), reflecting increased net unrealized and realized gains on investments, partially offset by increased performance fees and provision for income taxes.
Fairfax India Holdings Corporation announces that its annual shareholders’ meeting will be held on Thursday, April 21. At this time, Fairfax India is planning for an in-person meeting which will also be webcast; if there are any updates to this plan, Fairfax India will advise of those updates and provide further details on the meeting in a later announcement.
Fairfax India Holdings Corporation announces that, through its wholly-owned subsidiary, it has entered into an agreement to invest INR 2.45 billion (approximately $33 million at current exchange rates) for a 70% equity interest in Jaynix Engineering Private Limited (“Jaynix”). The transaction is subject to customary closing conditions and is expected to close in the first quarter of 2022.
Fairfax India Holdings Corporation announces that it has completed a $175 million unsecured revolving credit facility (“Revolving Credit Facility”) with a syndicate of lenders. The Revolving Credit Facility has a three-year term with an option to extend for an additional year.
Fairfax India Holdings Corporation announces that it has completed the initial closing of its investment in Maxop Engineering Company Private Limited (“Maxop”).
Fairfax India Holdings Corporation announces net earnings of $131.9 million in the third quarter of 2021 ($0.85 net earnings per diluted share), compared to net earnings of $77.7 million in the third quarter of 2020 ($0.52 net earnings per diluted share), reflecting increased net realized and unrealized gains on investments, partially offset by increased performance fees, provision for income taxes, and decreased net foreign exchange gains.
Fairfax India Holdings Corporation announces that the Toronto Stock Exchange has accepted a notice filed by Fairfax India of its intention to commence a Normal Course Issuer Bid for its Subordinate Voting Shares through the facilities of the TSX (or other alternative Canadian trading systems) effective September 30, 2021.