IIFL Finance board to weigh Blackstone, Advent proposals for Rs 5,000 crore capital raise
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓The IIFL Finance board will meet on Tuesday to consider proposals from Blackstone and Advent International for a Rs 5,000 crore capital raise.
- ✓The lender also explores a potential transaction involving Fairfax's stake sale.
- ✓Nirmal Jain said an investor could negotiate simultaneously with both the company and Watsa for deals.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Economic Times
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
IIFL Finance's board will consider separate investment proposals from Blackstone and Advent International for a nearly Rs 5,000 crore capital raise, as the lender also explores a potential transaction involving Fairfax's stake sale.
The board of IIFL Finance will meet on Tuesday to consider proposals for a fresh capital infusion of nearly Rs 5,000 crore. The board will evaluate separate proposals from private equity firms Blackstone and Advent International, said people with knowledge of the matter.
Nirmal Jain-promoted IIFL Finance had told ET in an interview on October 19 that it planned to raise up to Rs 5,000 crore by selling a 10-20% stake to a minority investor, while promoters could subscribe to warrants to limit dilution.
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Economic Times
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