IIFL Finance increases stake in subsidiary company
29th Jul 2022

IIFL Finance has hiked its stake in subsidiary company IIFL Samasta Finance by acquiring over 12.4 crore shares from wholly-owned arm IIFL Home Finance for Rs 259 crore. With this additional holding representing 25 per cent of equity share capital, the stake of IIFL Finance has increased to 99.41 per cent from 74.41 per cent earlier in IIFL Samasta.

The objective of purchase is to consolidate shareholding of the company in IIFL Samasta. The stake buy happened for a total cash consideration of Rs 259 crore at Rs 20.80 per share. IIFL Samasta is a microfinance institution that caters to the financial needs of women borrowers. It provides small-ticket microfinance loans to self-employed women, through organised Joint Liability Groups (JLGs).

IIFL Finance is an Indian diversified financial services company.