Fairfax India Holdings Corporation (Fairfax India), a longstanding investor in IIFL Finance Limited (the company), has announced its commitment to provide liquidity support amidst the recent Reserve Bank of India (RBI) embargo effective March 5, 2024, on the company’s gold loan disbursements. The RBI’s embargo has raised liquidity concerns amongst the company’s investors and lenders.…
Non-banking finance company, IIFL Finance Limited, announced the appointment of T S Ramakrishnan as an Additional Non-Executive (Nominee) Director on the company’s Board, with effect from October 26, 2023. According to the company’s exchange filing, “, the Board of Directors of the Company vide resolution passed by circulation on October 26, 2023, has considered and…
Non-banking finance company, IIFL Finance Limited, announced the appointment of Abhiram Bhattacharjee as Chief of Staff, with effect from October 18, 2023. According to the company’s exchange filing, “Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), the Board of Directors of the Company based on the recommendations…
NBFC company IIFL Finance stated that it has raised $175 million through external commercial borrowing (ECB) route in the month of June 2023. The retail focused NBFC has raised $75 million from HSBC, $50 million from Union Bank (Sydney) and $50 million from Bank of Baroda (IFSC unit). The funds were raised at SOFR plus…
Fairfax-backed, leading Mumbai-based non-banking financial company (NBFC), IIFL Finance (IIFL), has secured $100 million in long-term funding, jointly, from Export Development Canada (EDC) and Deutsche Bank. The NBFC secured $ 50 million from EDC and $50 million from Deutsche Bank, respectively. The deal was structured under the aegis of Deutsche Bank as mandated lead arranger,…
NBFC company IIFL Finance announced the appointment of Gaurav Sharma as Chief Technology Officer of the company. Sharma is a technology and digital transformation specialist with over 27 years of experience. He was in the CTO role at Poonawalla Fincorp and L&T Financial Services previously. He was also associated with TCS and Max Life Insurance…
Non-Banking Financial Company IIFL Finance Limited said that its wholly owned subsidiary IIFL Home Finance Limited, an affordable housing finance company, has entered into definitive agreements for raising ₹2,200 Cr of primary capital for a 20% stake from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA). Speaking on the occasion, Nirmal Jain,…
Neobank Open announced it has raised $50 million funding led by IIFL Finance, according to ETtech report. Existing investors Temasek, Tiger Global and 3one4 Capital also participated in the funding round. Post this funding, Open has entered the unicorn club with a valuation of $1 billion. Open, going forward, will use the new capital and…
IIFL Finance, a Systemically Important Non-deposit taking Non-Banking Financial Company, announced it will open a public issue of Secured NCDs on September 27, 2021, to raise up to Rs. 1,000 crore, for the purpose of onward lending, financing, refinancing the existing indebtedness of the Company (payment of interest and/or repayment/prepayment of principal of borrowings) and…
IIFL Finance announced the appointment of Ramakrishnan Subramanian as an Additional Director (Independent Director) of the company, effective September 06, 2021. According to the Company’s exchange filing, “We wish to inform you that the Board has approved through resolution passed by circulation appointment of Mr. Ramakrishnan Subramanian (DIN: 02192747), as an Additional Director (Independent Director)…
IIFL, a leading financial services company in India, announced that it has launched an initiative to support fintech startups that are facing funding and growth challenges due to the COVID-19 pandemic. The initiative, named #IIFLDisrupt, will help fintech startups by providing funds, becoming their first client and giving access to mentors. “COVID-19 has disrupted the…
Prabodh Agrawal, Chief Financial Officer of IIFL FINANCE, will be exiting from his role. The company in its exchange filing informed that Agrawal has submitted his resignation due to personal reasons. Agrawal will be relieved from the services in February 2020. In a BSE release, the company said “we would like to inform that Mr.…