Today news
About the same in other media
IIFL Finance plans Rs 1,272-crore rights issue
Reading now: 639
MUMBAI: IIFL Finance plans to raise 1,272 crore through a rights issue, at 300 per share, offering a near-30% discount to the market price. The issue opens April 30 and ends May 14.
IIFL Finance shareholders will get one share for every nine they hold. This move comes after the Reserve Bank of India (RBI) banned IIFL Finance from issuing gold loans in March.
Nearly a third of IIFL Finance’s book consists of gold loans, with assets under management of more than 20,000 crore.
On April 16, shares of the company declined 2.35% to 421.7 apiece. Mumbai markets were shut Wednesday. A rights issue is an incentive for existing shareholders to buy more shares of the company at a discount.
(You can now subscribe to our ETMarkets WhatsApp channel)
Read more on economictimes.indiatimes.com
About this in other media
Manappuram Finance share price hits 52-week high as SEBI approves Asirvad Micro Finance IPO livemint.com /7 months ago
Jana Small Finance Bank Q4 Results: Net profit doubles to Rs 167 crore economictimes.indiatimes.com /7 months ago
Former NABARD Chairman Dr. Govinda Rajulu Chintala Joins IIFL Samasta Finance as Chairman of the Board livemint.com /7 months ago
Show more
The website fvbb.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
