ICICI Securities Ltd ("Manager to the Offer") has submitted to BSE a copy of Public Announcement for the attention of the Public Shareholders of IIFL Capital Services Ltd under Regulations ....
IIFLCAPS · price
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FIH Mauritius Investments Ltd (backed by Fairfax Group) is making a mandatory open offer to acquire up to 10,01,44,112 equity shares (26% of Expanded Voting Share Capital) of IIFL Capital Services Ltd at INR 350 per share, totaling up to INR 3,505 crore. The trigger is an Investment Agreement dated May 7, 2026 involving: (1) a Preferential Issue of ~5.71 crore shares at INR 350/share to the Acquirer, and (2) a Secondary Purchase of additional shares from promoter sellers. Fairfax currently holds ~24.67% (via Acquirer and PAC). Post-transaction (including full open offer acceptance), the Acquirer + PAC would hold ~65.5%. The Acquirer will be classified as promoter. The transaction is conditional on regulatory approvals including SEBI, CCI, stock exchange in-principle approval, and change-in-control approvals across multiple entities including IIFL Capital Asset Management, IIFL Management Services, and insurance subsidiaries.
Existing public shareholders have an option to tender shares at INR 350 (significant premium to current market levels). The Acquirer will gain promoter status and control over IIFL Capital Services. Minimum 25% public shareholding must be maintained per SEBI rules; the Acquirer and Promoter Sellers have committed to reduce shareholding if needed.