|
| Exchange Disseminated Time 06/04/2016 19:57:51 | With reference to the earlier announcement dated March 30, 2016, regarding to investment by General Atlantic Singapore Fund Pte. Ltd. [GA] in the Wealth Management Subsidiary of the Company, i.e. IIFL Wealth Management Limited (IIFLW). IIFL Holdings Ltd has now informed BSE that the Board of Directors of IIFLW at its meeting held on April 06, 2016 noted the transfer of 7,95,519 Equity Shares by the employees of IIFLW to GA at a price of INR 586.70 each, constituting a total consideration of INR 46.67 Crore.
Consequent to the above, the acquisition of equity stake by GA in IIFLW has been completed and GA holds 21.61% of equity share capital of IIFLW, on fully diluted basis (i.e. assuming full exercise of stock options in future). |
|
|