IIFL Finance's board has approved raising up to ₹10,000 crore through equity and other eligible securities, marking a significant capital strengthening initiative for the non-banking financial company. According to reports from CNBC TV18, the proposed fundraising can be undertaken through multiple routes including public issues, rights issues, preferential allotments, private placements, qualified institutional placements (QIPs), or combinations of these methods, depending on market conditions and capital requirements. The company clarified that any actual issuance would be considered by the board or its committees at an appropriate time. The decisions were approved by the company's Board of Directors during its meeting held on June 27, 2026.
The board also approved an increase in the company's borrowing limit and the limit for creation of security on its assets to ₹75,000 crore from the existing ₹60,000 crore, subject to shareholder approval at the upcoming annual general meeting. As reported by CNBC TV18, this expansion provides the non-banking financial company with greater flexibility to meet its funding requirements. Additionally, the board approved an increase in the size of its Global Medium Term Notes (GMTN) programme from $1 billion to $2 billion, enabling the company to tap overseas markets more effectively for funding. The proposal will require approval from shareholders at the upcoming Annual General Meeting (AGM).
Separately, IIFL Finance announced a significant leadership change in its finance function, with Kapish Jain stepping down as Chief Financial Officer on June 26, 2026, and will take over as Chief Strategy Officer. According to CNBC TV18, Vikas Jain has been appointed as CFO and Key Managerial Personnel with effect from June 27, 2026. The company highlighted that Vikas Jain brings more than 20 years of experience across finance, treasury, fundraising and compliance, having previously worked with firms including Hinduja Leyland Finance, Bajaj Finance, Bajaj Housing Finance and PwC. As of June 27, 2026, the proposed fund raising and enhanced borrowing limits remain subject to shareholder approval at the upcoming AGM.
Ahead of the announcement, shares of IIFL Finance closed at ₹509.10, down 3.06% in Thursday's trading session, as reported by CNBC TV18. The market reaction suggests investor caution despite the company's strategic expansion plans and leadership changes aimed at strengthening its capital base and operational capabilities. The proposed fund raising, higher borrowing limits and expansion of international funding options indicate IIFL Finance's focus on supporting future business growth and strengthening its capital position.
