Management Change27 Mar 2026, 02:23 pm
India Finsec Ltd to Initiate IPO Process for Subsidiary IFL Finance Limited; Appoints Mr. Devi Dass Agarwal as Independent Director
AI Summary
India Finsec Ltd has announced its decision to initiate the process for a proposed Initial Public Offer (IPO) of its subsidiary, IFL Finance Limited. The IPO will comprise an aggregate of up to 3,60,00,000 equity shares through fresh issue and up to 40,00,000 equity shares through an offer for sale. The Board of Directors has also approved the re-appointment of Mr. Devi Dass Agarwal as an Independent Director for the next five (5) consecutive years commencing from 01st July, 2026 till 30th June, 2031. The remote e-Voting period for the Extraordinary General Meeting (EGM) will start on Tuesday 21st April, 2026 at 9:00 a.m. and end on Thursday, 23rd April, 2026 at 5:00 p.m.
Key Highlights
- India Finsec Ltd to initiate IPO process for subsidiary IFL Finance Limited
- IPO to comprise an aggregate of up to 3,60,00,000 equity shares through fresh issue and up to 40,00,000 equity shares through an offer for sale
- Board of Directors approved the re-appointment of Mr. Devi Dass Agarwal as Independent Director
- Mr. Agarwal to serve for the next five (5) consecutive years commencing from 01st July, 2026 till 30th June, 2031
- Remote e-Voting period for Extraordinary General Meeting (EGM) starts on Tuesday 21st April, 2026 at 9:00 a.m. and ends on Thursday, 23rd April, 2026 at 5:00 p.m.