New Delhi, IIFL Finance on Wednesday said its board has approved raising Rs 1,271.83 crore from a rights issue at a price of Rs 300 per share.
Last month, the IIFL board had approved raising funds not exceeding Rs 1,50 crore by issuing shares on rights basis to existing eligible shareholders as on record date.
The Reserve Bank of India (RBI) has barred NBFCs from disbursing gold loans.
In a regulatory filing on Wednesday, IIFL Finance said its board approved issuance of 4,23,94,270 fully paid equity shares for an aggregate amount of Rs 1,271.83 crore (assuming full subscription in respect of right equity shares). Has given.
It said it approved the price of Rs 300 per share including premium of Rs 298 per unit and fixed the record date as April 23, 2024.
Rights Equity Shares for every 9 fully paid equity shares held by eligible equity shareholders of the company, as on the record date, applications can be made by existing shareholders between April 30 and May 14.
Last month, the RBI had barred IIFL Finance Ltd from disbursing gold loans with immediate effect following several supervisory concerns, including serious deviations in testing and certifying the purity of the yellow metal.
RBI had said that the supervisory restrictions will be reviewed upon completion of a special audit to be initiated by the RBI and after rectification by the company of the special audit findings and the findings of the RBI inspection to the satisfaction of the central bank.
Last month, the IIFL board had approved raising funds not exceeding Rs 1,50 crore by issuing shares on rights basis to existing eligible shareholders as on record date.
The Reserve Bank of India (RBI) has barred NBFCs from disbursing gold loans.
In a regulatory filing on Wednesday, IIFL Finance said its board approved issuance of 4,23,94,270 fully paid equity shares for an aggregate amount of Rs 1,271.83 crore (assuming full subscription in respect of right equity shares). Has given.
It said it approved the price of Rs 300 per share including premium of Rs 298 per unit and fixed the record date as April 23, 2024.
Rights Equity Shares for every 9 fully paid equity shares held by eligible equity shareholders of the company, as on the record date, applications can be made by existing shareholders between April 30 and May 14.
Last month, the RBI had barred IIFL Finance Ltd from disbursing gold loans with immediate effect following several supervisory concerns, including serious deviations in testing and certifying the purity of the yellow metal.
RBI had said that the supervisory restrictions will be reviewed upon completion of a special audit to be initiated by the RBI and after rectification by the company of the special audit findings and the findings of the RBI inspection to the satisfaction of the central bank.
