IIFL Finance Ltd's rights issue opens for subscription today

The rights issue of fully paid-up equity shares of IIFL Finance Ltd of face value of ₹ 2 each ("Equity Shares") for an amount not exceeding ₹1,500 crores (Rupees One Thousand Five Hundred Crores) is set to open for subscription today.

Instrument: Fully paid-up Equity Shares of face value of ₹2 each;

Total number of Equity Shares and Rights Issue size: 4,23,94,270 fully paid-up Equity Shares each for amount aggregating up to ₹1271.83 crore (assuming full subscription with respect to Rights Equity Shares);

Rights Issue Price: ₹300 per fully paid-up Equity Share (including a premium of ₹298 per Equity Share) on application;

Record Date: Tuesday, April 23, 2024;

Rights Issue period:

Rights Issue Opening Date: Tuesday, April 30, 2024;
Rights Issue Closing Date: Tuesday, May 14, 2024;

Outstanding Equity Shares:

Prior to the Rights Issue: 38,15,48,435 fully paid Equity Shares;

Post Rights Issue: 42,39,42,705 fully paid Equity Shares (assuming full subscription to the Issue and subject to finalisation of the basis of allotment);

Rights Entitlement Ratio: 1 Rights Equity Share for every 9 fully paid-up equity share of the Company held by the eligible equity shareholders of the Company, as on the record date ("Eligible Equity Shareholders").

Shares of IIFL Finance Limited was last trading in BSE at Rs. 412.70 as compared to the previous close of Rs. 415.10. The total number of shares traded during the day was 76261 in over 2761 trades.

The stock hit an intraday high of Rs. 419.35 and intraday low of 411.50. The net turnover during the day was Rs. 31583527.00.

Source : Equity Bulls

Keywords

IIFLFinance INE530B01024 FundRaising RightsIssue