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| Exchange Disseminated Time | With reference to the earlier letter dated October 24, 2015 with regard to agreement for investment by General Atlantic Singapore Fund Pte. Ltd. [GA] in the Wealth Management Subsidiary of the Company i.e. IIFL Wealth Management Limited (IIFLW), IIFL Holdings Ltd has now informed BSE that the Board of Directors of IIFLW at its meeting held on February 25, 2016 inter alia, has approved the following:
1. allotment of 17,04,449 equity shares of IIFLW at a price of INR 586.70 per equity share pursuant to receipt of total consideration of INR 100 Crore;
2. allotment of 136,35,589 equity warrants of IIFLW pursuant to receipt of 25% upfront consideration of INR 215.75 Crore by the Company. |
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