CCI Approves FIH Mauritius' Acquisition of Additional Equity in IIFL Capital Services
The Competition Commission of India (CCI) has granted approval for the acquisition of certain additional equity share capital of IIFL Capital Services Limited by FIH Mauritius Investments Ltd. The proposed combination involves multiple transaction mechanisms: FIH Mauritius will subscribe to fresh equity shares through a preferential issue on a private placement basis, acquire equity shares tendered in the mandatory open offer by public shareholders of IIFL Capital, and may undertake secondary purchases from the promoters if the combined shareholding of FIHM and HWIC in IIFL Capital remains below the target threshold after completing the primary subscription and open offer acquisition.
FIH Mauritius Investments Ltd is a Mauritius-incorporated investment holding company focused on long-term capital appreciation through investments in equity securities and debt instruments of Indian businesses. It holds a Global Business License from the Financial Commission of Mauritius but does not conduct other business activities. The company is a wholly-owned subsidiary of Fairfax India Holdings Corporation, which is listed on the Toronto Stock Exchange, and ultimately owned by Fairfax Financial Holdings Limited, a Canadian holding company primarily engaged in property and casualty insurance and reinsurance operations globally, including in India.
IIFL Capital Services Limited is an Indian public limited company registered with SEBI as a financial services provider. The company offers integrated solutions including wealth management, investment banking, broking services, institutional equities, and research services targeting high net-worth and ultra-high net-worth clients and family offices. Its primary business activities encompass stockbroking services across equity and commodities asset classes, investment banking, and financial product distribution in India.