Friday, December 05, 2025 | 01:24 PM ISTहिंदी में पढें

Home / Markets / News / IIFL Finance in a spot over open offer breach, firm says error in reporting

IIFL Finance in a spot over open offer breach, firm says error in reporting

Stock hits upper limit after regulatory filing shows promoter holding in the company had breached the 25% threshold following an open market purchase by chairman and CEO Nirmal Jain

Nirmal Jain, Chairman and CEO, IIFL Finance

premium

The promoter shareholding is below the open offer trigger of 25%. I have bought the shares and before these come into my demat account, another promoter entity has sold, said Nirmal Jain, Chairman and CEO, IIFL Finance

Samie Modak Mumbai

4 min read Last Updated : Jun 26 2020 | 12:42 AM IST

IIFL Finance stock hit upper limit on Thursday after a regulatory filing showed the promoter holding in the company had breached the 25 per cent threshold following an open market purchase by chairman and chief executive officer (CEO) Nirmal Jain.

Confusion reigned as the company in a stock exchange filing said, “This is to clarify that the promoter group's voting rights in the company has not exceeded 25 per cent and promoter group has no intent to acquire more than 25 per cent voting rights in the company or make any public offer.”

However, a filing on June 24 by

Topics : IIFL Holdings IIFL Group Sebi norms Sebi