IIFL Finance Rights Issue is scheduled for 30 Apr – 14 May 2024
Founded in 1995, IIFL Finance is a diversified non-banking financial company (NBFC) in India. It operates in the business of providing loans and mortgages, along with its subsidiaries. The company offers a broad range of financial products, including home loans, gold loans, business loans (such as loans against property and financing for medium and small enterprises), microfinance, developer and construction finance, and capital market finance. These services are available to both retail and corporate clients.
IIFL Finance provides a variety of loan products to its customers, aiming to deliver innovative solutions tailored to their changing needs. As of 31 March 2023, more than 95% of its loan portfolio was focused on retail customers, with 67% of the retail loans (excluding gold loans, which are not categorized as Priority Sector Lending).
The company operates on a national scale, boasting a robust network of over 2,600 branches in more than 500 cities across the country.
Promoters of IIFL Finance – Nirmal Bhanwarlal Jain, and R Venkataraman
IIFL Finance Rights Issue Details
| IIFL Finance Rights Issue Date | 30 Apr – 14 May 2024 |
| IIFL Finance Rights Issue Price | INR 300 per share |
| Issue Size (in Shares) | 42,394,270 shares |
| Issue Size (in INR) | INR 1,271.83 crore |
| Issue Entitlement | 1 equity shares for every 9 equity shares held on the record date |
| Terms of Payment | Fully payable at the time of application |
| IIFL Finance Rights Issue Record Date | 23 April 2024 |
| Face Value | INR 2 per share |
| Listing On | BSE, NSE |
IIFL Finance Rights Issue Calculation
| Rights Issue Price | INR 300 per share |
| Market Price on Rights Issue Approval | INR 409.47 per share |
| Dilution Factor (X) | 1.11 |
| Fair Value After Dilution at Prevailing Price | INR 398.52 per share |
IIFL Finance Financial Performance
| Â | FY 2021 | FY 2022 | FY 2023 |
| Revenue | 5,989.69 | 7,023.61 | 8,447.11 |
| Expenses | 4,984.91 | 5,487.63 | 6,334.59 |
| Net income | 760.81 | 1,188.25 | 1,607.55 |
| ROCE (%) | 15.0 | 20.0 | 19.0 |
IIFL Finance Rights Offer Objectives
The company intends to utilize the Net Proceeds from the Issue to augment the capital base of the company.
- Its existing activities
- The activities proposed to be funded from the Net Proceeds
IIFL Finance Rights Offer Documents
IIFL Finance Rights Issue Dates
| Rights Issue Approval Date | 17 April 2024 |
| Rights Issue Record Date | 23 April 2024 |
| Credit of Rights Entitlement | 29 April 2024 |
| Rights Issue Opening Date | 30 April 2024 |
| Last Date for Market Renunciation | 8 May 2024 |
| Rights Issue Closing Date | 14 May 2024 |
| Finalization of Basis of Allotment | 23 May 2024 |
| IIFL Finance Rights Allotment Date | 24 May 2024 |
| Credit Date | 27 May 2024 |
| Listing Date | 28 May 2024 |
IIFL Finance Rights Offer Lead Manager
AMBIT PRIVATE LIMITED
Ambit House, 449, Senapati Bapat Marg,
Lower Parel, Mumbai 400013, Maharashtra
Telephone: +91 22 6623 3030
Email: [email protected]
Website:Â www.ambit.co
IIFL Finance Rights Offer Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 22 4918 6200
Email: [email protected]
Website:Â www.linkintime.co.in
IIFL FINANCE LIMITED
802, 8th Floor, Hubtown Solaris, N.S. Phadke Marg,
Vijay Nagar, Andheri East, Mumbai 400069, Maharashtra
Phone:Â +91 22 6788 1000
Email: [email protected]
Website: www.iifl.com
IIFL Finance Rights Offer FAQs
What is the IIFL Finance Rights Issue Price?
The issue price is INR 300 per share.
What is the IIFL Finance Rights Issue entitlement ratio?
The eligible shareholders are offered 1 Equity Shares for every 9 Equity Shares held on the record date.
What is the IIFL Finance Rights Issue Record Date?
The Record date is 23 April 2024.
How to Apply in IIFL Finance Rights Offer?
The best way to apply in IIFL Finance Rights Offer is through Internet banking ASBA. You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an application Form form and deposit the same to your broker.
