FIH Mauritius Investments Ltd has announced the acquisition of 57,142,857 equity shares in IIFL Capital Services Limited through a preferential issue. This transaction, finalized on November 4, 2026, was made pursuant to an investment agreement dated May 7, 2026. The company is providing disclosures in compliance with Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
FIH Mauritius Investments Ltd Announces Share Acquisition
FIH Mauritius Investments Ltd has officially disclosed the acquisition of a significant block of shares in IIFL Capital Services Limited. The transaction involved the issuance and allotment of 57,142,857 equity shares to FIH Mauritius Investments Ltd, the designated ‘Acquirer,’ on November 4, 2026. This action was executed as part of a ‘Preferential Issue’.
Transaction Details and Regulatory Compliance
The acquisition stems from an Investment Agreement entered into on May 7, 2026, between FIH Mauritius Investments Ltd (‘Acquirer’), IIFL Capital Services Limited (‘Target Company’), Nirmal Bhanwarlal Jain, and Venkataraman Rajamani. The company is making this disclosure to comply with Regulation 29(2) and other applicable provisions of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Post-Acquisition Shareholding
Prior to this acquisition, FIH Mauritius Investments Ltd held 8,46,41,445 equity shares, representing 26.82% of the total voting capital and 24.23% on a diluted basis. Following the preferential issue, the Acquirer’s holding increased to 14,17,84,302 equity shares, bringing their total voting capital shareholding to 38.04% and diluted shareholding to 34.88%.
Additionally, a Person Acting in Concert (PAC), HWIC Asia Fund, held 1,03,62,530 equity shares before the acquisition, amounting to 3.28% of the total voting capital and 2.97% on a diluted basis. After the acquisition, the PAC’s holding remains unchanged, contributing to a combined holding of 40.83% of the total voting capital and 37.43% on a diluted basis for the Acquirer and its PAC.
Note on Voting Rights
It is noted that the Acquirer will not exercise any voting rights on the equity shares allotted under the Preferential Issue until the completion of a mandatory open offer to public shareholders and the Open Offer. These shares will be held in a separate share escrow account during this period.
Source: BSE
