IIFL Wealth hits 5% upper circuit; IIFL Securities to make debut tomorrow

The board of directors of IIFL Finance at its meeting held in January 2018 had approved the reorganization of IIFL Group.

Shares of IIFL Wealth Management, the demerged entity of IIFL Holding, were locked in the upper circuit band of 5 per cent at Rs 1,271 on debut on the National Stock Exchange (NSE) on Thursday. On the BSE too, the stock was frozen at 5 per cent upper circuit at Rs 1,260, after opening at Rs 1,200.

Till 02:18 pm, a combined 1.8 million equity shares changed hands and there were pending buy orders for 1.9 million shares on the NSE and BSE. In comparison, the benchmark indices were down 1.2 per cent each.

The board of directors of IIFL Finance (formerly