IIFL Finance approves a Rs 1500 crore rights issue and Rs 500 crore NCDs private placement to strengthen capital after RBI's gold loan ban.
IIFL Finance approves raising Rs 1500 crore via rights issue and Rs 500 crore through non-convertible debentures (NCDs) in a private placement. The NBFC aims to strengthen capital after the Reserve Bank of India barred it from disbursing gold loans. The company's gold loans under management stood at Rs 246.92 billion as of December 31, accounting for 32% of its total assets.
March 13, 2024
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