MUMBAI: The board of IIFL Finance has permitted a rights issue to raise Rs 1,272 crore. The issue can be within the ratio of 1 fairness share for each 9 totally paid-up fairness shares. It will comprise 4.24 crore shares for an quantity not exceeding Rs 1,500 crore.
The rights shares are priced at Rs 300 per totally paid-up fairness share, which features a premium of Rs 298 crore per share.The file date for the rights issue is April 23. The issue will open on April 30 and shut on May 14. The rights issue will develop the corporate’s fairness base from 38.2 crore to 42.4 crore shares.
The rights shares are priced at Rs 300 per totally paid-up fairness share, which features a premium of Rs 298 crore per share.The file date for the rights issue is April 23. The issue will open on April 30 and shut on May 14. The rights issue will develop the corporate’s fairness base from 38.2 crore to 42.4 crore shares.
