Public Announcement for Open Offer

Listed Co AcquisitionOpen Offer TriggeredStrategic Transactions View source PDF Explain this filing

IIFLCAPS · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

+1.7%Reaction day

₹350.05

prior close

₹355.00

announcement price

After-mkt

timing

Nifty Microcap 250market · index membership as recorded later (tracked since Jun 2026)-0.1%+1.8% vs market

Stockbroking & Allied peers, median of 38sector-0.2%+1.9% vs sector

On the reaction day the stock moved 1.8 pts more than Nifty Microcap 250 and 1.9 pts more than its Stockbroking & Allied peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-1.5

10m

-0.5

15m

-0.9

30m

+0.4

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+1.7-0.1+1.8-0.2+1.9

Next day

+0.6-1.5+2.1-1.8+2.4

-1.4-4.5+3.1-5.0+3.5

-0.6-3.9+3.3-5.1+4.5

-1.6-3.6+2.1-4.7+3.1

-2.0-4.0+2.0-4.6+2.6

-2.0-4.9+2.9-4.2+2.2

15d

-3.3-2.7-0.6-6.9+3.6

-3.0-2.5-0.5-6.9+3.9

-3.4+2.7-6.1-3.7+0.4

-4.3+8.4-12.7-3.4-0.9

UpDownMarket · Nifty Microcap 250Sector · Stockbroking & Allied peers, median of 38Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

FIH Mauritius Investments Ltd (backed by Fairfax Group) has triggered a mandatory open offer for IIFL Capital Services Limited. The acquirer, who currently holds 21.98%, is subscribing to a preferential issue of 5.71 crore shares at INR 350 each and will purchase additional shares from promoter sellers. The open offer targets up to 10.01 crore equity shares (26% of expanded voting capital) at INR 350 per share, totaling up to INR 3,505 crore. After the preferential issue and secondary purchase, the acquirer's stake will rise to 36.81%, and upon full acceptance of the open offer, the combined holding (with PAC) would reach 62.81%. The acquirer does not intend to delist the company. The offer is triggered under SEBI (SAST) Regulations as the acquirer will exceed 25% voting rights and acquire control.

Likely market impact

Existing public shareholders have an option to exit at INR 350 per share, representing a significant premium. The Fairfax Group is consolidating control over IIFL Capital Services, which may lead to changes in management composition and business strategy. Minimum public shareholding requirements must be maintained.