IIFL Finance Approves ₹64,142 Cr Preferential Issue

IIFL Finance Limited's Board of Directors has approved a significant preferential issue totaling ₹64,142 crore (₹64,142,00,00,146). This includes the issuance of 8,55,48,173 compulsorily convertible preference shares and 2,10,00,000 warrants. Key allottees include Ingot SG Pte. Ltd. subscribing ₹49,999.99 crore for preference shares, and promoters Nirmal Bhanwarlal Jain, Venkataraman Rajamani, and Ardent Impex Private Limited subscribing to warrants aggregating ₹1,083.90 crore. The company also approved an increase in its authorized share capital to ₹56,210.50 crore, subject to shareholder and regulatory approvals.