Outcome of the Board Meeting held on May 7, 2026
IIFLCAPS · price
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The board of IIFL Capital Services Ltd has approved a preferential issue of 5,71,42,857 equity shares at INR 350 per share to FIH Mauritius Investments Ltd for approximately INR 2,000 Crore. An Investment Agreement was executed with the investor and existing promoters Nirmal Bhanwarlal Jain and Venkataraman Rajamani. Upon completion, the investor's stake will increase from 27.18% to 38.47%, making it a promoter. A mandatory open offer to public shareholders will be triggered under SEBI Takeover Regulations. The board also approved amendments to Articles of Association granting the investor rights to nominate directors, and called an EGM on June 1, 2026 for shareholder approval.
This INR 2,000 Crore investment will bring significant capital and a new promoter group. The mandatory open offer at INR 350 per share provides an exit opportunity to public shareholders. The transaction will result in a change of control with FIH Mauritius Investments becoming a promoter along with special rights including board nomination rights.