2 publishers · first seen Tue, 10 Nov 2026 00:00 UTC · updated Wed, 11 Nov 2026 04:33 UTC
Blackstone, the world's largest alternative asset manager, is set to acquire a 16% stake in IIFL Finance for Rs 5,000 crore as part of a Rs 6,414 crore capital raising plan. The investment, approved by IIFL Finance's board, will be made through a preferential allotment of compulsorily convertible preference shares, which will convert into equity shares at Rs 602 per share within 18 months. The capital infusion aims to increase IIFL Finance's capital adequacy ratio from around 17% to 30%, supporting business expansion and improving credit ratings. The promoters, Nirmal Jain and R Venkataraman, will invest Rs 1,264 crore, while Anchorage Capital will contribute Rs 150 crore. The transaction is subject to regulatory and shareholder approvals.
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