IIFL Finance Ltd to increase stake in IIFL Samasta Finance Ltd to 99.41%

IIFL Finance Limited has approved purchase of 12,45,55,797 equity shares of IIFL Samasta Finance Limited, a Subsidiary Company ("IIFL Samasta") (representing 25% of equity share capital) from IIFL Home Finance Limited ("HFC"), wholly owned subsidiary of the Company. The said transaction was completed on July 27, 2022 and accordingly, the Company's shareholding in IIFL Samasta increased from 74.41% to 99.41%.

The objective of purchase is to consolidate shareholding of the Company in IIFL Samasta from 74.41% to 99.41%.

IIFL Samasta, an IIFL Group company, is a mircofinance institution committed to work towards women's economic empowerment. IIFL Samasta provides small-ticket microfinance loans to self-employed women, through organized Joint Liability Groups (JLGs).

Shares of IIFL Finance Limited was last trading in BSE at Rs. 351.75 as compared to the previous close of Rs. 345.50. The total number of shares traded during the day was 115466 in over 4202 trades.

The stock hit an intraday high of Rs. 364.00 and intraday low of 348.80. The net turnover during the day was Rs. 41086200.00.

Source : Equity Bulls

Keywords

IIFLFinance INE530B01024 StakeIncrease IIFLSamastaFinance MFI SelfEmployedWomen Microfinance