Fairfax Holdings CEO Prem Watsa speaks at the annual general meeting for shareholders in Toronto, April 9, 2014. REUTERS/Mark Blinch
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BENGALURU, Aug 16 (Reuters) – India’s Digit Insurance, backed by Canadian billionaire Prem Watsa’s Fairfax Group, has filed for an initial public offering, draft papers filed with the market regulator showed on Tuesday.
The IPO consists of a fresh issue of shares worth 12.5 billion rupees, while existing shareholders will sell up to 109.4 million shares, the prospectus showed.
The total size of the IPO is likely to be 35 billion rupees ($440.69 million), according to a person with direct knowledge of the matter.
Digit Insurance did not immediately respond to Reuters’ request for comment.
($1 = 79.4210 Indian rupees)
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Reporting by Chris Thomas in Bengaluru and M. Sriram in Mumbai; Editing by Subhranshu Sahu
Our Standards: The Thomson Reuters Trust Principles.
Fairfax-backed Digit Insurance files draft papers for India IPO & Latest News Update
Fairfax-backed Digit Insurance files draft papers for India IPO & More Live News
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Fairfax-backed Digit Insurance files draft papers for India IPO & More News Today
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