IIFL Finance shines on getting nod to invest Rs 200 crore in IIFL Samasta Finance
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IIFL Finance is currently trading at Rs. 636.80, up by 5.80 points or 0.92% from its previous closing of Rs. 631.00 on the BSE.
The scrip opened at Rs. 633.00 and has touched a high and low of Rs. 642.50 and Rs. 633.00 respectively. So far 6508 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 704.20 on 16-Oct-2023 and a 52 week low of Rs. 408.40 on 14-Mar-2023.
Last one week high and low of the scrip stood at Rs. 642.50 and Rs. 590.55 respectively. The current market cap of the company is Rs. 24137.64 crore.
The promoters holding in the company stood at 24.81%, while Institutions and Non-Institutions held 35.61% and 39.58% respectively.
IIFL Finance has received approval for the investment to the extent of Rs 200 crore in IIFL Samasta Finance, a Material Subsidiary (Samasta) by way of subscription to 7,47,94,315 fully paid up equity shares of face value of Rs 10 each, at a premium of Rs 16.74 per share, through Rights Issue. The object of acquisition is to raise equity to support growth, reduce gearing and improve capital adequacy. The Finance Committee of the Board of Directors of the Company at its meeting held on November 15, 2023, approved the same.
IIFL Finance is an Indian diversified financial services company.
