Fairfax India Holdings Corporation announces that its wholly-owned subsidiary, FIH Mauritius Investments Ltd. has completed its previously announced sale of 9.8% equity interest in IIFL Wealth Management Limited (“IIFL Wealth”) to Bain Capital for gross proceeds of approximately $172 million (approximately INR14.0 billion at current exchange rates).
Fairfax India Holdings Corporation announces net earnings of $112.6 million in the third quarter of 2022 ($0.79 net earnings per diluted share), compared to net earnings of $131.9 million in the third quarter of 2021 ($0.85 net earnings per diluted share).
Fairfax India Holdings Corporation reaffirms that while its general practice is not to comment on market speculation, the Company confirms that contrary to some recent media reports, the Company is a long-term shareholder of Bangalore International Airport Limited (“BIAL”) and has no intention of selling its ownership interest in BIAL.
Fairfax India Holdings Corporation announces that it has appointed Ms. Sharmila Karve as an independent director.
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, 2022.
Fairfax India Holdings Corporation announces that it has completed the second closing of its investment in Maxop Engineering Company Private Limited (“Maxop”).
Fairfax India Holdings Corporation announces a net loss of $69.6 million in the second quarter of 2022 ($0.50 net loss per diluted share), compared to net earnings of $224.9 million in the second quarter of 2021 ($1.43 net earnings per diluted share).
Fairfax India Holdings Corporation announces net earnings of $55.8 million in the first quarter of 2022 ($0.38 net earnings per diluted share), compared to net earnings of $255.4 million in the first quarter of 2021 ($1.66 net earnings per diluted share), reflecting decreased net unrealized gains on investments and increased net foreign exchange losses, partially offset by a performance fee recovery and decreased income tax and interest expense.
Fairfax India Holdings Corporation is pleased to announce the results of the vote on Directors at its April 21, 2022 Annual Shareholders’ Meeting.
Fairfax India Holdings Corporation announces additional details regarding its upcoming annual shareholders’ meeting. The hybrid meeting will be held both in-person and virtually, as originally announced, on April 21, 2022 and will commence at 2:00 p.m. Eastern Time, with the formal annual meeting and a presentation by Prem Watsa, Fairfax India’s Chairman and Chandran Ratnaswami, Fairfax India’s CEO, followed by a Q&A session, all of which will be webcast in real time.