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NCLT approves demerger of IIFL Group into 3 Entities

The National Company Law Tribunal (NCLT) has approved the proposed demerger of IIFL Group. The three resulting companies — IIFL Finance, IIFL Wealth and IIFL Securities will now be listed on the stock exchanges within 60 days. As per the arrangement, for every seven shares of IIFL Holdings — the listed company — a shareholder will get seven shares each of IIFL Finance and IIFL Securities, and one share of IIFL Wealth. At present, promoters have 28.95% stake in IIFL Holdings, Fairfax holds 35.3%, FPIs 23.36% and retail 10.38%. 

Read More at The Economic Times News date : 15 Mar 2019, Friday

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