The board of IIFL Finance Ltd has approved a rights issue not exceeding ₹1,500 crore.

According to the company’s stock exchange filing, the issue involves 4,23,94,270 fully paid-up equity shares of face value ₹2 each aggregating to ₹1,271.83 crore (assuming full subscription) and priced ₹300 per share, including a premium of ₹298 per share. The record date is April 23, 2024.

The issue opens on April 30, 2024, and closes on May 14, 2024.

The rights entitlement ratio is one rights equity share for every nine fully paid-up equity shares of the company held by equity shareholders.

Also read
Retail investors accounted for nearly 91.3% of the 16.49 folios in the mutual fund industry in December 2023, while HNIs account for around 8% and institutional investors account for less than 1% of the total folios.

Mutual Fund folios nearly double in last five years, driven by retail investors

Akshay Moondra, CEO of Vodafone Idea

Vodafone Idea raises ₹5,400 crore from anchor investors ahead of FPO

Infosys, IndusInd Bank, Bajaj Finserv, Wipro, HCL Technologies, Bajaj Finance, Tech Mahindra, Tata Consultancy Services, and Larsen & Toubro were major laggards on the Sensex

Markets slump for third day on fears of escalating tensions in West Asia

IIFL Finance stock closed at ₹423 on the NSE in Tuesday’s trade, down by 1.9 per cent.

Related Topics
comment COMMENT NOW