IIFL Finance Ltd. has received approval from the National Stock Exchange of India Ltd. to acquire shares aggregating up to Rs 284.4 crore of the bourse from a Fairfax India Holdings Corp.-backed company.
The shares will be acquired from FIH Mauritius Investments Ltd. through secondary market purchase and shall form part of current investment of the company, with a view to reap the long-term and short-term investment benefits, according to an exchange filing on Monday.
The shares will represent 0.18% equity in NSE.
The Fairfax unit held a 1.01% stake in the stock exchange as of December 2023.
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