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IIFL Finance to raise Rs1,272 cr via rights
Board approved raising funds not exceeding Rs1,500 cr by issue of shares on a rights basis
New Delhi: IIFL Finance on Wednesday said its board has approved raising up to Rs1,271.83 crore from a rights issue at a price of Rs300 per share. Last month, the IIFL board approved raising an amount not exceeding Rs1,500 crore by way of issue of shares on a rights basis to existing eligible shareholders as on the record date.
The NBFC has been barred by the Reserve Bank of India (RBI) from sanctioning or disbursing gold loans. In a regulatory filing on Wednesday, IIFL Finance said its board has approved 4,23,94,270 fully paid-up equity shares each for an amount aggregating up to Rs1,271.83 crore (assuming full subscription with respect to rights equity shares).
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