Page 2 - Iifl Group

Sebi's Buch in Hindenburg's firing line: How will markets react on Monday?

Analysts believe that these statements are mere allegations, which, at best, can trigger a knee-jerk reaction in the markets when they open for trade on Monday

IIFL Finance Q1 FY25 results: Net profit falls 28% to Rs 338 crore

IIFL Finance on Tuesday posted 28 per cent decline in consolidated profit at Rs 338 crore for June quarter FY25 as RBI imposed ban on its gold loan business. The NBFC had earned a profit of Rs 473 crore in the same quarter a year ago. The Reserve Bank of India (RBI) on March 4 barred IIFL Finance from disbursing gold loans with immediate effect following multiple supervisory concerns, including serious deviations in assaying and certifying the purity of the yellow metal. Total income increased to Rs 2,625 crore during the quarter under review from Rs 2,370 crore in the same period last year, IIFL Finance said in a regulatory filing. Interest income of the bank rose to Rs 2,472 crore from Rs 2,198 crore in the first quarter of previous year. Expenses also increased to Rs 1,034 crore from Rs 888 crore. The asset quality deteriorated with gross non-performing assets (NPAs) rising to 2.25 per cent from 1.8 per cent at the end of June 2023. Net NPAs remained flat at 1.1 per cent of ..

IIFL Finance shares soar 9% as RBI completes special audit of gold loans

IIFL Finance RBI news: IIFL Finance posted a net profit after tax of Rs 373.4 crore in Q4FY24, down 10 per cent, affected by the RBI's embargo on fresh gold loans

IIFL Finance Q4 results: Consolidated net profit falls 6% to Rs 431 cr

IIFL Finance on Sunday reported a 6 per cent decline in consolidated net profit to Rs 431 crore for the March quarter as the RBI barred the financial services firm from undertaking gold loan business. The company had earned a net profit of Rs 458 crore in the same quarter a year ago. The Reserve Bank of India (RBI) on March 4 barred IIFL Finance Ltd from disbursing gold loans, with immediate effect following multiple supervisory concerns, including serious deviations in assaying and certifying the purity of the yellow metal. Its consolidated total income during January-March 2024 rose to Rs 2,922 crore as compared with Rs 2,276 crore in the year-ago period, IIFL Finance said in a regulatory filing. Interest income of IIFL Finance offers a range of loans and mortgages increased to Rs 2,720 crore during the quarter, as against Rs 2,058 crore in the year-ago period. During the quarter, the gross non-performing assets (NPAs) increased to 2.3 per cent as against 1.8 per cent at the end

RBI-appointed auditor completes the special audit of IIFL Finance

Finance firm facing curb on gold loan business

IIFL Securities Q4 result: Net profit more than doubles to Rs 180 cr

IIFL Securities on Friday announced its net profit more than doubled to Rs 180.4 crore in three months ended March 2024 driven by strong growth in all the business segments. In comparison, the company had posted a net profit of Rs 86.4 crore in the year-ago period, IIFL Securities said in a statement. Total income surged 74 per cent year-on-year to Rs 704.4 crore for the quarter under review from Rs 405.2 crore in the January-March quarter of the FY 2022-23. "We witnessed strong growth in all our business segments. Our institutional broking and investment banking franchise has significantly improved their competitive position with stellar operating performance. Indian capital market businesses will continue to witness secular growth given multiple tailwinds over the next decade," "Venkataraman, Chairman, IIFL Securities, said. The company's board of directors in its meeting in March approved an interim dividend of Rs 3 per equity share of the face value of Rs 2 each for the financi

Special audit starts at IIFL Fin after RBI restricted gold loan sanction

RBI's inspection had indicated a lack of adherence to the standard auction process and a lack of transparency in charges being levied on customer accounts

IIFL Finance to raise $152 million via share sale amid ban on gold loans

IIFL's gold loans under management stood at 24,692 crore rupees as of December 31

RBI's special audit to probe regulatory breaches of IIFL Finance, JMFPL

Banking regulator seeks interest from Sebi-empanelled audit firms to conduct the audit

After RBI restriction, Fitch puts IIFL Finance on negative rating watch

"The move reflects a downside risk to IIFL Finance's franchise, profitability and overall risk profile if regulatory restrictions on new gold-backed lending are prolonged," Fitch said in a note

IIFL Finance planning Rs 1,500 cr rights issue to shore up capital adequacy

Adds two directors on board, rejigs top management

Cross-check with multiple lenders for accurate valuation of gold loan

For fairer assessment, select a lender that uses an external assayer

IIFL Finance's lending partners mull options to grow gold loan book

This follows the Reserve Bank of India's (RBI's) restrictions on non-banking financial companies (NBFCs) from engaging in gold loan business

IIFL Finance board to consider fundraise on March 13 after RBI clampdown

IIFL Finance had said that Fairfax India had agreed to invest up to $200 million of liquidity support on terms to be mutually agreed upon and subject to applicable laws and regulations

IIFL Finance jumps 10% after 2-day losses on Fairfax fund's infusion plan

IIFL Finance is among India's top two NBFCs in the gold loan business. It has a gold loan portfolio of Rs 24,692 crore, which was 32 per cent of its total loans of Rs 77,444 cr, as at Q3FY24

Fairfax India agrees to give IIFL Finance up to $200 mn liquidity support

NBFC's stock falls another 20% after RBI bars it from disbursing gold loans

Fairfax India agrees to give IIFL Finance up to $200 mn liquidity support

NBFC's stock falls another 20% after RBI bars it from disbursing gold loans

Taking steps to meet RBI's concern: IIFL Fin after ban on giving gold loans

Company has enough liquidity and there is no governance at play, says NBFC's managing director

NBFC lender 360 One Prime to raise Rs 1,000 cr from reedemable NCDs

Non-banking financial company 360 One Prime, formerly IIFL Wealth, on Monday said it will raise up to Rs 1,000 crore debt through its maiden public issue of secured, redeemable, Non-Convertible Debentures (NCDs). The first tranche of the issue, which will be listed on the BSE, will open for subscription on January 11, with a base issue size of Rs 200 crore and an option to retain over-subscription of up to Rs 800 crore, the company in a statement said. The proceeds from the issue will be used for onward lending, financing/refinancing existing debt and interest payment of existing borrowings and other general corporate purposes. The company offers a coupon rate of 8.91-9.66 per cent per annum, depending on the tenor -- 18, 24, 36, and 60 months with monthly and annual interest payment options across eight series -- Karan Bhagat, Founder, and Chief Executive of the company, said. 360 One Prime is a wholly-owned subsidiary of 360 One WAM, which was formerly known as IIFL Wealth ...

NBFCs begin provisioning for AIF exposure after RBI tightens norms

Piramal to adjust Rs 3,164 cr; IIFL Finance sees Rs 161 cr impact