Blackstone to Buy Over 15% Stake in IIFL Finance
Blackstone will acquire an over 15% stake in IIFL Finance through a preferential securities issue worth up to 64.14 billion rupees ($682.87 million), the company said.
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11:11:50 AM UTC
SquawkNews
IIFL Finance's board has approved a ₹6,414 crore preferential issue of compulsorily convertible preference shares (CCPS) and warrants at ₹602 apiece, with a Blackstone affiliate set to invest ₹5,000 crore in the non-banking financial company (NBFC).The development follows CNBC-TV18's earlier report…
Blackstone NYSE:BX will acquire an over 15% stake in India's IIFL Finance as part of a preferential issue of securities worth up to 64.14 billion rupees ($682.87 million), the non-banking financial company said on Tuesday.($1 = 93.9275 Indian rupees)