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| Exchange Disseminated Time | With reference to the earlier intimation dated February 26, 2016 with regard to investment by General Atlantic Singapore Fund Pte. Ltd. [GA] in the Wealth Management Subsidiary of the Company i.e. IIFL Wealth Management Limited (IIFLW). In this regard, IIFL Holdings Ltd has now informed BSE that IIFLW has since received balance consideration of Rs. 588.01 Crore towards exercise of warrants from GA and accordingly the Board of Directors of IIFLW at its meeting held on March 30, 2016, approved conversion of 136,35,589 warrants into equity shares and allotted 136,35,589 equity shares to General Atlantic Singapore Fund Pte. Ltd., at an exercise price of INR 589.46 per share.
The Board of IIFLW has also approved on March 30, 2016 an investment of Rs. 590 Crore by way of equity capital in IIFL Wealth Finance Limited, a wholly owned subsidiary of IIFLW. |
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