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IIFL Wealth Management Ltd to list on Sep 19, 2019

Posted On: 2019-09-18 09:02:49

Effective from Thursday, September 19, 2019, the equity shares of IIFL Wealth Management Limited shall be listed and admitted to dealings on the Bombay Stock Exchange in the list of T Group of Securities. The scrip will be in Trade-for-Trade segment for 10 trading days.

IIFL Wealth Management Limited (Resulting Company 2 or Transferor Company 3) shall issue and allot, on a proportionate basis to each shareholder of IIFL Finance Limited (formerly known as IIFL Holdings Limited) (Transferee Company 1 or Demerged Company), 1 (One) fully paid up equity share of INR 2/- (Indian Rupees Two) each of the Resulting Company 2, credited as fully paid up, for every 7 (Seven) equity share of INR 2/- (Indian Rupees Two) each of the Demerged Company held by such shareholder whose name is recorded in the register of members and records of the depository as members of the Demerged Company as on the Record Date.

Prior to the Scheme coming in to effect, the paid-up equity capital of IIFL Wealth Management Limited was Rs. 16,90,42,648/- consisting of 8,45,21,324 equity shares of face value of Rs.2/- each. 4,50,00,000 equity shares held by IIFL Finance Limited (formerly known as IIFL Holdings Limited) in IIFL Wealth Management Limited shall stand cancelled upon aforesaid demerger. After giving effect to the allotment of 4,56,04,924 equity shares of Rs. 2/- each to the shareholders of IIFL Finance Limited (formerly known as IIFL Holdings Limited) and cancellation of 4,50,00,000 equity shares of Rs. 2/- each, the post arrangement paid up equity capital of IIFL Wealth Management Limited is Rs. 17,02,52,496/- consisting of 8,51,26,248 Equity shares Rs.2/- each.

Source: Equity Bulls

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