Board of IIFL Finance approves terms of rights issue

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.

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