IIFL Finance Limited's board approved raising up to Rs 10,000 crore through issuance of equity shares or other eligible securities. The fundraising may be done in one or more tranches through public issues, rights issues, preferential allotments, private placements, or qualified institutions placements. Securities may be rupee-denominated or denominated in foreign currencies, subject to necessary approvals including member approval at the ensuing annual general meeting.
The board also approved increasing the existing Global Medium Term Notes Programme limit from USD 1 billion to USD 2 billion. Pricing of notes under the GMTN Programme will be determined at a later date.
IIFL Finance's board approved an increase in the borrowing limit and the limit for creation of security on assets from Rs 60,000 crore to Rs 75,000 crore. The enhancement requires member approval at the ensuing annual general meeting.
Kapish Jain stepped down as Chief Financial Officer effective June 26, 2026, and will transition into another role within IIFL Finance. The board noted this change at its meeting on June 27, 2026.
Vikas Jain was appointed as the new Chief Financial Officer and Key Managerial Personnel, effective June 27, 2026. Vikas Jain is a chartered accountant with over 20 years of experience in finance, treasury, and audit. He previously served as CFO of Hinduja Leyland Finance, leading treasury operations and fund raising including external commercial borrowing and securitisation transactions. He has also worked with Bajaj Finance, Bajaj Housing Finance, and PwC.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.