Fairfax India Holdings Corporation (Fairfax India), an investment holding company, announced 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).
As a result of the closing of the transaction, Fairfax India’s share ownership in IIFL Wealth will be approximately 3.8%, a statement said.
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