The board of IIFL Finance Ltd has approved a rights issue not exceeding â¹1,500 crore.
According to the companyâs stock exchange filing, the issue involves 4,23,94,270 fully paid-up equity shares of face value â¹2 each aggregating to â¹1,271.83 crore (assuming full subscription) and priced â¹300 per share, including a premium of â¹298 per share. The record date is April 23, 2024.
The issue opens on April 30, 2024, and closes on May 14, 2024.
The rights entitlement ratio is one rights equity share for every nine fully paid-up equity shares of the company held by equity shareholders.
IIFL Finance stock closed at â¹423 on the NSE in Tuesdayâs trade, down by 1.9 per cent.
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