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| Exchange Disseminated Time 20/07/2016 17:17:30 | IIFL Holdings Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 20, 2016 at 03.00 PM and concluded on 4.53 PM, inter-alia, has considered and approved the following:
1. The proposed investment of about Rs. 1,000 Crores by CDC Group Plc, UK [CDC] in the wholly owned subsidiary of the Company namely India Infoline Finance Limited, a systemically important Non Banking Financial Company [NBFC] of the Group. The above investment is by way of issue and allotment of Equity Shares and Compulsorily Convertible Preference Shares [CCPS] subject to necessary regulatory approvals;
2. Entering into an Investment Agreement amongst the Company, India Infoline Finance Limited and CDC in relation to the aforesaid investment. Upon the consummation of the transaction, CDC will hold around 15% equity stake in India Infoline Finance Limited on a fully diluted basis i.e. assuming full conversion of CCPS and maximum possible dilution due to vesting of all outstanding stock options.
In this regard, the Company has issued a Press Release dated July 20, 2016 titled "CDC Group plc to invest Rs. 1,000 crores in India Infoline Finance (IIFL Finance)". |
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