'First impression is the last impression’ goes the age-old adage. And it seems like Mumbai-based IIFL Holdings, had left an indelible mark on one of its institutional broking clients, Fairfax Financial back in 2007. Owned by Indian-origin billionaire Prem Watsa, the Canadian investment giant bought into the financial services company by picking up a 9% stake in 2011. It further increased its holding by 26% in 2015 via an open offer thus becoming the largest shareholder with a 35.44% stake.