Nirmal Jain

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Blackstone agrees to buy about 16% of India's IIFL Finance

Leading the capital raise and subscribing ₹903 crore of warrants himself

IIFL Finance lends against gold and to small businesses from more than 5,000 branches across India. On November 10 its board approved a ₹6,414 crore capital raise, with Blackstone paying ₹5,000 crore, about $535 million, for a 15.57% fully diluted stake.

Updated 1 hour ago

Notable Quotes

The investment strengthens our balance sheet and gives us the headroom to scale our franchises, invest further in technology, and deepen our co-lending partnerships with banks.

from Blackstone agrees to buy about 16% of India's IIFL Finance · Updated 1 hour ago

Every 25 basis points saved on borrowings is worth about ₹200 crore a year.

from Blackstone agrees to buy about 16% of India's IIFL Finance · Updated 1 hour ago