IIFL Finance announces buy-back of Notes listed in SGX-ST

The Finance Committee of the board of Directors of IIFL Finance Limited ("Company") approved the buy-back of its Notes listed on the Singapore Exchange Securities Trading Limited (SGX-ST), from its eligible noteholders as set out in the tender offer memorandum, up to a maximum purchase amount of U.S.$50,000,000 (nominal value), and shall further initiate the cancellation of Notes following the settlement date. The buy-back is available to the eligible holders and the Notes tendered will be bought back once the offer period is over and shall be conditional upon the receipt of financing by the Company through banking facilities granted to the Company, the proceeds of which will be utilised towards the purpose of purchase of the Notes pursuant to the Offer and general corporate purposes in accordance with the ECB Regulations.

Buy-back of Notes shall be in compliance with the applicable laws including Master Directions on External Commercial Borrowings, Trade Credits and Structured Obligations issued by the Reserve Bank of India on March 26, 2019, as may be amended from time to time.

Shares of IIFL Finance Limited was last trading in BSE at Rs. 287.30 as compared to the previous close of Rs. 288.80. The total number of shares traded during the day was 33414 in over 1071 trades.

The stock hit an intraday high of Rs. 296.40 and intraday low of 283.45. The net turnover during the day was Rs. 9689559.00.

Source : Equity Bulls

Keywords

IIFLFinance INE530B01024 Notes BuyBack SGXST