IIFL Finance surges on planning to raise funds through NCDs

IIFL Finance is currently trading at Rs. 318.55, up by 8.05 points or 2.59% from its previous closing of Rs. 310.50 on the BSE.

IIFL Finance 1
IIFL Finance 1

The scrip opened at Rs. 316.55 and has touched a high and low of Rs. 319.00 and Rs. 311.60 respectively. So far 9471 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 395.15 on 28-Apr-2022 and a 52 week low of Rs. 234.05 on 29-Jun-2021.

Last one week high and low of the scrip stood at Rs. 337.75 and Rs. 305.30 respectively. The current market cap of the company is Rs. 11954.20 crore.

The promoters holding in the company stood at 24.91%, while Institutions and Non-Institutions held 21.70% and 53.39% respectively.

IIFL Finance is planning to raise funds through issuance of Secured Redeemable Non-Convertible Debentures (NCDs), in one or more tranches, through public issue, subject to regulatory and statutory approvals, as applicable.

The meeting of Board of Directors of the Company is scheduled to be held on June 23, 2022 to consider and approve the same.

IIFL Finance is an Indian diversified financial services company.

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