IIFL Finance Rights Issue

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:

  1. Home loans
  2. Gold loans
  3. Business loans, including loans against property and medium and small enterprise financing
  4. Microfinance
  5. Construction, and real estate finance
  6. 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 shares22 April 2024
Record Date23 April 2024
Credit of Rights Entitlements29 April 2024
Bid/Offer Opens On30 April 2024
Renunciation of Rights Entitlements08 May 2024
Bid/Offer Closes On14 May 2024
Deemed Date of Allotment24 May 2024
Credit Date27 May 2024
Listing Date28 May 2024

IIFL Finance Rights Issue Details

Issue OpenApril 30, 2024 – May 14, 2024
Security NameIIFL 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 AtBSE, NSE
Terms of PaymentRights Issue Price: Rs.300 per fully paid-up Equity Share (including a premium of Rs.298 per Equity Share) on application
Entitlement1 Rights Equity Share(s) for every 9 fully paid-up Equity Shares held on Record Date

Company Financials

Period Ended31 Mar 202331 Mar 202218 Mar 2021
Profit After Tax1,607.551,188.25760.81
Reserves and Surplus8,915.976,387.915,311.75
Total Borrowing17,185.1816,073.8016,060.53
(Amount in ₹ Crore)

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

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

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

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