<div>Canadian investor Prem Watsa's Fairfax India Holdings Corp plans to increase its stake in Indian financial services firm IIFL Holdings Ltd to up to 26 percent for $225 million through a share tender offer.</div><div> </div><div>Fairfax India, a fund Hyderabad-born Watsa set up last year to boost India investments, said its Mauritius unit would buy about 83 million shares of IIFL at 195 rupees each, a premium of 3.6 percent over the Indian firm's close price on Monday.</div><div> </div><div>Fairfax India's parent Fairfax Financial Holdings Ltd <FFH.TO> already owns about 8.97 percent of IIFL, and has an economic interest of another 5.24 percent through derivative instruments, the fund said.</div><div> </div><div>It expects the offer to close later this year.</div><div> </div><div>IIFL is a diversified financial services holding company, with business interests in non-banking finance, housing finance, wealth management, retail broking, institutional equities, investment banking and insurance distribution.</div><div> </div><div>(Reuters)</div>
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