IIFL Finance Limited has informed the Exchange about the Voting Results along with Scrutinizer's Report for the Extra-Ordinary General Meeting held on March 20, 2026.
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IIFL Finance held an Extra-Ordinary General Meeting (EGM) on March 20, 2026, via video conferencing, with 62 shareholders attending out of 1,33,407 on record date. The single resolution on the agenda was to approve a Material Modification to the existing Material Related Party Transaction(s) with IIFL Home Finance Limited. The resolution was passed as an Ordinary Resolution with overwhelming shareholder support — 12.48 crore votes in favour (99.20%) versus just 10.03 lakh votes against (0.80%). Notably, the promoter group (holding 10.56 crore shares) did not vote on the resolution as they were classified as interested parties. Institutional investors turned out strongly, with 66.81% of their shares being polled, while retail participation was lower at 14.57%.
Shareholders have cleared a material modification to a related party transaction with IIFL Home Finance (a subsidiary), removing a potential governance overhang. The near-unanimous approval (99.2%) signals strong investor confidence in the transaction, though the related-party nature and promoter abstention mean minority shareholders will want to monitor how this benefits IIFL Finance standalone.