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IIFL Securities Limited to list on Sep 20, 2019

Posted On: 2019-09-18 09:03:17

Effective from Friday, September 20, 2019, the equity shares of IIFL Securities Limited shall be listed and admitted to dealings on the Exchange in the list of T Group of Securities. The scrip will be in Trade-for-Trade segment for 10 trading days.

Pursuant to the Composite Scheme of Arrangement amongst IIFL Finance Limited (formerly known as IIFL Holdings Limited), India Infoline Media & Research Services Limited, IIFL Securities Limited, IIFL Wealth Management Limited, India Infoline Finance Limited, IIFL Distribution Services Limited and their respective Shareholders as sanctioned by the Mumbai Bench of the Hon'ble National Company Law Tribunal; whereby upon coming into effect of the scheme and in consideration of the demerger of the Securities Business Undertaking of IIFL Holding Limited and vesting the same into IIFL Securities Limited; the IIFL Securities Limited shall issue and allot equity shares to the shareholders of IIFL Holdings Limited in the ratio of 1 (One) equity share of Rs. 2/- each of IIFL Securities Limited, credited as fully paid-up, for every 1 (One) equity share of Rs. 2/- each, fully paid-up held in IIFL Holdings Limited on the Record Date.

Prior to the Scheme, the equity capital of IIFL Securities Limited was Rs. 18,71,82,810/- consisting of 1,87,18,281 equity shares of face value of Rs. 10/- each and the same shall stand cancelled upon the scheme coming effect.

The issued, subscribed and paid-up equity capital of IIFL Securities Limited post arrangement is Rs. 63,84,68,924/- consisting of 31,92,34,462 Equity shares Rs. 2/- each.


Source: Equity Bulls

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