IIFL Finance Ltd Share Price – NSE  /  BSE

Finance, Small Cap

The said action follows s the RBI’s embargo dated March 4, 2024 which suspended the disbursement of new gold loans by our company until the satisfactory completion of the said audit. This measure was part of RBI’s supervisory action over concerns related to certain loan disbursement practices.

The company said that it committed to extending full cooperation to the special audit team to ensure a comprehensive and thorough audit.

Recently, the company has received an approval from National Stock Exchange of India (NSE) to acquire 0.18% stakes in NSE for Rs 284.40 crore from FIH Mauritius Investments.

IIFL Finance, a leading retail-focused NBFC in India, offers loans and mortgages through its subsidiaries. With a wide range of products and a vast customer base, they operate across India through branches and digital channels.

The company’s consolidated net profit surged 29.64% to Rs 490.44 crore on 25.64% increase in revenue from operations stood to Rs 2,694.36 crore in Q3 FY24 over Q3 FY23.

The scrip rose 0.15% to Rs 410.75 on the BSE.

Powered by Capital Market - Live News

IIFL Finance announced that the special audit directed by the Reserve Bank of India (RBI) has commenced as of 23 April 2024.

This follows the RBI's embargo dated 04 March 2024 which suspended the disbursement of new gold loans by our company until the satisfactory completion of the said audit. This measure was part of RBI's supervisory action over concerns related to certain loan disbursement practice.

Powered by Capital Market - Live News

The Board of IIFL Finance has approved fund raising by way of rights issue for an amount not exceeding Rs 1,500 crore. The Board approved the terms of rights issue as under:

Rights issue size: 4,23,94,270 equity shares for an amount up to Rs 1,271.83 crore.

Rights issue price: Rs 300 per equity share (including a premium of Rs 298 per share)

Rights issue opening date - 30 April 2024
Rights issue closing date - 14 May 2024

Record date - 23 April 2024

Outstanding equity shares post rights issue - 42,39,42,705 fully paid equity shares (assuming full subscription)

Rights entitlement ratio - 1 rights equity share for every 9 equity shares of the company held by shareholders of the company.

Powered by Capital Market - Live News

IIFL Finance will hold a meeting of the Board of Directors of the Company on 17 April 2024.

Powered by Capital Market - Live News