IIFL Finance Rights Issue will open for subscription from 30 April 2024. the company aims for an issue size of ₹1,271.83 Crores through this rights Issue.
About the company
Incorporated in 1995, IIFL Finance Limited is a Mumbai-based Non-deposit-taking Non-Banking Financial Company (“NBFC-ND-SI”) registered with the RBI. They cater to a wide customer base with their extensive range of products in the form of:
- Home loans
- Gold loans
- Business loans, including loans against property and medium and small enterprise financing
- Microfinance
- Construction, and real estate finance
- Capital market finance
The customers of the company include both retail and corporate clients. As of March 31, 2023, March 31, 2022, and March 31, 2021, the company’s consolidated assets under management were ₹ 64,637.64 crores, ₹ 51,209.79 crores, and ₹ 44,688.03 crores, respectively.
Objectives of the Issue
- its existing activities; and
- the activities proposed to be funded from the Net Proceeds.
IIFL Finance Rights Issue Timetable
| Last Date to buy shares | 22 April 2024 |
| Record Date | 23 April 2024 |
| Credit of Rights Entitlements | 29 April 2024 |
| Bid/Offer Opens On | 30 April 2024 |
| Renunciation of Rights Entitlements | 08 May 2024 |
| Bid/Offer Closes On | 14 May 2024 |
| Deemed Date of Allotment | 24 May 2024 |
| Credit Date | 27 May 2024 |
| Listing Date | 28 May 2024 |
IIFL Finance Rights Issue Details
| Issue Open | April 30, 2024 – May 14, 2024 |
| Security Name | IIFL Finance Ltd |
| Issue Size (Shares) | 42,394,270 |
| Issue Size (Amount) | ₹1,271.83 Crores |
| Issue Price | ₹300 per share |
| Face Value | ₹2 per share |
| Listing At | BSE, NSE |
| Terms of Payment | Rights Issue Price: Rs.300 per fully paid-up Equity Share (including a premium of Rs.298 per Equity Share) on application |
| Entitlement | 1 Rights Equity Share(s) for every 9 fully paid-up Equity Shares held on Record Date |
Company Financials
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 18 Mar 2021 |
| Assets | 53,001.32 | 45,910.18 | 40,666.92 |
| Revenue | 8,447.11 | 7,006.28 | 5,989.69 |
| Profit After Tax | 1,607.55 | 1,188.25 | 760.81 |
| Reserves and Surplus | 8,915.97 | 6,387.91 | 5,311.75 |
| Total Borrowing | 17,185.18 | 16,073.80 | 16,060.53 |
Rights Issue Documents
Lead Manager(s)
- Ambit Private Limited
- Motilal Oswal Investment Advisors Limited
Rights Issue Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: iifl.rights2024@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Company Contact Information
IIFL Finance Ltd
IIFL House, Sun Infotech Park
Road No. 16V, Plot No. B-23,
Thane Industrial Area, Wagle Estate, Thane–40060
Phone: :(91-22) 41035000
Email: csteam@iifl.com
Website: https://www.iifl.com/
Final Thoughts
Applying for the rights issue is purely a personal choice. make sure you make a detailed study about the company and rights issue before you make an investment decision.
Happy investing
