 "IIFL Finance")
Shares of IIFL Finance hit a 17-month low of Rs 360 as they slipped 3 per cent on the BSE in Friday's intraday trade after Fitch Ratings Singapore Pte Ltd (Fitch). and Brickwork Ratings India Private Limited (Brickwork) revised their ratings for the company.
On Tuesday, March 13, rating agencies CRISIL Ratings, Care Ratings, and Icra revised their ratings on IIFL Finance and IIFL Home Finance.
The revision in ratings follows a March 4, 2024 regulatory directive by the Reserve Bank of India (RBI) where it directed IIFL Finance to cease new gold-backed lending and related off-balance-sheet funding transactions.
Fitch Ratings has placed
