CDC Group Plc (CDC), the United Kingdom’s government-owned development finance institution, will make an investment of about Rs 1,000 crore in IIFL Holdings’ wholly-owned subsidiary - India Infoline Finance (IIFL Finance). The proposed investment is by way of Compulsorily Convertible Preference Shares (CCPS) which on conversion will result in about 15% equity stake for CDC in IIFL Finance on a fully diluted basis.
The investment banking arm of IIFL Group was the exclusive financial advisor to IIFL Finance in this transaction. . The proposed transaction is subject to necessary regulatory approvals. CDC’s investment will help IIFL Group in expanding the financing business and address the capital needs of under-served segments through diversified offerings.
IIFL Finance is a systemically important Non-Banking Financial Company (NBFC) not accepting public deposits and engaged in the business of home and property loans, gold loans, commercial vehicle finance, healthcare finance, loan against securities and SME business loans.
