MUMBAI: The board of IIFL Finance has approved a rights issue to raise Rs 1,272 crore. The issue will be in the ratio of one equity share for every nine fully paid-up equity shares. It will comprise 4.24 crore shares for an amount not exceeding Rs 1,500 crore.
The rights shares are priced at Rs 300 per fully paid-up equity share, which includes a premium of Rs 298 crore per share.The record date for the rights issue is April 23. The issue will open on April 30 and close on May 14. The rights issue will expand the company’s equity base from 38.2 crore to 42.4 crore shares.
The rights shares are priced at Rs 300 per fully paid-up equity share, which includes a premium of Rs 298 crore per share.The record date for the rights issue is April 23. The issue will open on April 30 and close on May 14. The rights issue will expand the company’s equity base from 38.2 crore to 42.4 crore shares.
