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Fairfax India Holdings Corporation has completed investment of about ₹800 crore to acquire majority stake in National Collateral Management Services and has taken management control.
Fairfax through its wholly-owned subsidiary FIH Mauritius Investments had subscribed to new shares worth $31 million (₹198 crore), besides buying out shares worth $95 million (₹608 crore) from existing shareholders. NCML will continue to operate independently with Sanjay Kaul as MD and CEO.
Prem Watsa, Chairman, Fairfax India, said the collateral management company would tap the opportunities in India’s agriculture industry with its entrepreneurial approach creating modern efficiencies in the post-harvest value chain.
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