Capital Group buys 1.5% stake in IIFL Fin for Rs 374 cr; stock rises over 2%

Capital Group bought a 1.49 percent stake in IIFL Finance for Rs 374 crore. This acquisition was made through open market transactions from Fairfax India’s affiliate. US-based Capital Group purchased over 63 lakh shares at an average price of Rs 590. FIH Mauritius Investments, a Fairfax India subsidiary, sold an equal number of shares. Following this transaction, FIH Mauritius Investments’ shareholding in IIFL Finance decreased.

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