Fairfax Financial Holdings

Money Moves

Long-standing shareholder, diluted to about 10.9% by the new issue

IIFL Finance lends against gold and to small businesses from more than 5,000 branches across India. On November 10 its board approved a ₹6,414 crore capital raise, with Blackstone paying ₹5,000 crore, about $535 million, for a 15.57% fully diluted stake.

Updated Yesterday

Money Moves

Approved as strategic buyer of IDBI Bank; subject to RBI conditions including a two-year deadline to merge CSB or exit it, a five-year lock-in, and a 26% stake cap by year 15

On 17 October 2026, India's finance ministry settled a legal question that had hung over the IDBI Bank sale for years: does the IDBI (Repeal) Act, 2003 restrict the government from reducing its stake? Its answer — no — rests on a rejected 2003 amendment and a December 2018 Delhi High Court ruling, three days after the Cabinet named Fairfax Financial Holdings as buyer of a 60.72% stake for ₹52,878 crore.

Updated Oct 18