The Board of Directors of IIFL Finance Limited ( know the Q4FY22 results ) as well as the Board of Directors of IIFL Home Finance (‘Subsidiary Company’), a material subsidiary of the Company, at its meeting held yesterday, i.e. June 09, 2022 has approved the transaction of ₹ 2,200 crore, involving investment by a wholly owned subsidiary of Abu Dhabi Investment Authority in the Subsidiary Company.
Upon completion of the Transaction, the Investor will hold 20% of the share capital (calculated on a fully diluted) of the Subsidiary Company and resultantly, the present shareholding of the Company in the Subsidiary Company will get diluted. The completion of the Transaction is subject to requisite approvals.
IIFL Home Finance Limited said it would use the additional capital to continue its granular expansion strategy into new markets to address the significant and growing demand for housing loans, in an exchange filing on Thursday evening.
“This investment aims to support the company for its next phase of growth, as it meets the significant demand in India’s large, under-served and fast-growing affordable housing finance market, said Hamad Shahwan Aldhaheri, Executive Director of the Private Equities Department at ADIA.
“IIFL Home Finance has built a strong foundation and is at an inflection point as it leverages new strategies such as co-lending, foraying into more granular products and expanding reach across Tier II and Tier III regions,” Monu Ratra, CEO, IIFL Home Finance said.
Shares of IIFL Finance Ltd was last traded in BSE at ₹326.40 as compared to the previous close of ₹333.05. The total number of shares traded during the day was 20371 in over 895 trades.
The stock last hit in BSE,
- Intraday High of ₹ 337.00
- Intraday low of ₹ 325.00