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Fairfax India Holdings Corporation has entered into an agreement with existing shareholders of ADI Finches Limited to acquire approximately 45 per cent of the outstanding shares of ADI at a price per share of Rs 212 per share for total consideration of approximately Rs 130 crore.
ADI's shares are listed on the Bombay Stock Exchange and National Stock Exchange. As a result of such listings, Fairfax India will also make an open offer for an additional 26 per cent of the shares outstanding of ADI in accordance with applicable regulations of the Securities and Exchange Board of India.
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