FIH Mauritius Investments Ltd, along with HWIC Asia Fund, has announced a mandatory open offer to acquire up to 26% of the expanded voting share capital of IIFL Capital Services Limited. The offer, priced at INR 350 per share, aims to acquire 10,01,44,112 equity shares. This follows an investment agreement involving a preferential issue of shares, which will result in the acquirer gaining control of the company and being classified as a promoter.
Open Offer Details
An open offer has been triggered for the public shareholders of IIFL Capital Services Limited. The acquirer, FIH Mauritius Investments Ltd, in concert with HWIC Asia Fund, is offering INR 350 per share to purchase up to 10,01,44,112 fully paid-up equity shares. This represents 26.00% of the company’s expanded voting share capital. Should the offer receive full acceptance, the total consideration payable will be approximately INR 3,505.04 crore.
Strategic Transaction and Control
This open offer follows the execution of an investment agreement dated May 7, 2026. Under this agreement, IIFL Capital Services Limited will issue 5,71,42,857 equity shares to the acquirer via a preferential issue. Furthermore, the acquirer has established arrangements for a secondary purchase of shares from existing promoter sellers to ensure their total shareholding reaches 51% of the company on a fully diluted basis.
Future Governance and Management
Upon the successful completion of these transactions, the acquirer will transition into the role of promoter of IIFL Capital Services Limited. As part of this governance shift, the acquirer will gain the right to nominate two non-executive directors to the company’s board. The company has clarified that there is no intention to delist the entity from the stock exchanges following this acquisition.
Source: BSE
