General Announcement::Outcome of the Board Meeting held on May 02, 2022

Issuer & Securities

Issuer/ Manager
IIFL FINANCE LIMITED
Securities
IIFL FINANCE US$400M5.875%N230420 - XS2113454115 - Y5BB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
03-May-2022 12:19:30
Status
New
Announcement Sub Title
Outcome of the Board Meeting held on May 02, 2022
Announcement Reference
SG220503OTHR2548
Submitted By (Co./ Ind. Name)
IIFL Finance Limited/Sneha Patwardhan
Designation
Company Secretary
Effective Date and Time of the event
04/05/2022 17:00:00
Description (Please provide a detailed description of the event in the box below)
Pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( Listing Regulations ), the Board of Directors of the Company at its meeting, held on May 02, 2022, inter-alia considered and approved the following:

1. Joint Venture with Open Financial Technologies Private Limited for the purposes of offering neo-banking services to consumers and micro enterprises and retail customers including lending, investment, and wealth management services to certain target groups. The Company on May 02, 2022 also executed a Joint Venture Agreement with Open Financial Technologies Private Limited.

2. With respect to the said Joint Venture, incorporation of a Wholly Owned Subsidiary Company in the name and style "IIFL Open Fintech Private Limited" or such other name as may be approved by the Central Registration Centre and/or Ministry of Corporate Affairs.

The details as required under Regulation 30 of the Listing Regulations read with SEBI circular No. CIR/CFD/CMD/4/2015 dated September 09, 2015 is attached herewith as Annexure 1 and Annexure 2 .

Kindly take the above on record and oblige.

Attachments

SEOutcome03052022.pdf
Total size =268K