- Fairfax India (FIH.U) will acquire 70 per cent of Jaynix Engineering Private Limited
- Jaynix produces non-ferrous electrical connectors and electrical assemblies for major manufacturers across the globe
- The company will invest US$33M for its ownership stake
- Fairfax India is an investment holding company focused on Indian equity securities and debt instruments
- Fairfax India (FIH.U) is down by 1.24 per cent trading at US$11.95 per share
Fairfax India (FIH.U) will acquire 70 per cent of Jaynix Engineering Private Limited.
Jaynix is a Gujarat-based manufacturing company engaged in the production of non-ferrous electrical connectors and electrical assemblies. It is a critical tier-1 supplier to major electrical equipment manufacturers in North America and Europe.
Fairfax India will invest US$33M for its ownership stake and expects the transaction to close in Q1 2022.
It intends to enhance Jaynix’s staying power in the electrical equipment sector and build it into a world-class manufacturer.
“Jaynix is a family-owned business that was founded by Mr. Nikhil Diwakar and Mr. Ninad Diwakar. We are very impressed with the continued growth and operational efficiencies of the business under the exceptional leadership of the Diwakar family and are pleased that Nikhil and Ninad will continue in their roles as Managing Director and Executive Director upon closing of the transaction,” stated Prem Watsa, Chairman of Fairfax India.
Fairfax India is an investment holding company focused on Indian equity securities and debt instruments.
Fairfax India (FIH.U) is down by 1.24 per cent trading at US$11.95 per share as of 1:52 pm EST.