IIFL Finance has received approval for the investment to the extent of Rs 200 crore in IIFL Samasta Finance, a Material Subsidiary (Samasta) by way of subscription to 7,47,94,315 fully paid up equity shares of face value of Rs 10 each, at a premium of Rs 16.74 per share, through Rights Issue. The object of acquisition is to raise equity to support growth, reduce gearing and improve capital adequacy. The Finance Committee of the Board of Directors of the Company at its meeting held on November 15, 2023, approved the same.
IIFL Finance is an Indian diversified financial services company.
