IIFL Finance announced that the special audit directed by the Reserve Bank of India (RBI) has commenced as of 23 April 2024.This follows the RBI`s embargo dated 04 March 2024 which suspended the disbursement of new gold loans by our company until the satisfactory completion of the said audit. This measure was part of RBI`s supervisory action over concerns related to certain loan disbursement practice. Powered by Capital Market - Live News

The Board of IIFL Finance has approved fund raising by way of rights issue for an amount not exceeding Rs 1,500 crore. The Board approved the terms of rights issue as under:Rights issue size: 4,23,94,270 equity shares for an amount up to Rs 1,271.83 crore. Rights issue price: Rs 300 per equity share (including a premium of Rs 298 per share) Rights issue opening date - 30 April 2024Rights issue closing date - 14 May 2024Record date - 23 April 2024 Outstanding equity shares post rights issue - 42,39,42,705 fully paid equity shares (assuming full subscription)Rights entitlement ratio - 1 rights equity share for every 9 equity shares of the company held by shareholders of the company. Powered by Capital Market - Live News

IIFL Finance will hold a meeting of the Board of Directors of the Company on 17 April 2024.Powered by Capital Market - Live News

IIFL Finance has allotted 50,000 non convertible debentures of Rs 1 lakh each aggregating to Rs 500 crore on private placement basis on 20 March 2024. Powered by Capital Market - Live News

The Board of IIFL Finance at its meeting held on 13 March 2024 has approved the appointment of Bijou Kurien (DIN: 01802995) and Nihar Niranjan Jambusaria (DIN: 01808733) as Additional (Independent)Directors of the Company w.e.f 13 March 2024. Powered by Capital Market - Live News