IIFL Finance Limited's board at its meeting held on June 27 approved a proposal to raise up to Rs 10,000 crore through issuance of equity shares or other eligible securities in one or more tranches. The fundraising may be executed through public issues, rights issue, preferential allotment, private placement, qualified institutions placement, or a combination thereof, and may be rupee-denominated or denominated in foreign currencies, subject to shareholder approval and regulatory clearances. Any actual issuance will be considered at an appropriate time based on market conditions and regulatory approvals.
The board approved upsizing the existing Global Medium Term Notes Programme from USD 1 billion to USD 2 billion. Disclosures related to pricing of notes under the GMTN programme will be provided at the stage of issuance.
The board proposed enhancing the borrowing limit from Rs 60,000 crore to Rs 75,000 crore, subject to shareholder approval at the ensuing annual general meeting.
Kapish Jain stepped down as Chief Financial Officer effective June 26, 2026, and will transition into a different role within IIFL Finance. Vikas Jain was appointed as Chief Financial Officer and Key Managerial Personnel effective June 27, 2026. Jain is a chartered accountant and certified CISA, CISM, and PMP professional with over 20 years of experience in finance, treasury, and audit. He previously served as CFO of Hinduja Leyland Finance, leading large-scale treasury operations and diversified fundraising including external commercial borrowing and securitisation transactions, and has worked with Bajaj Finance, Bajaj Housing Finance, and PwC.
The board meeting commenced at 11:45 AM IST and concluded at 12:27 PM IST.
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.