IIFL Capital Services Limited (formerly IIFL Securities Limited) announced that its Board of Directors, following a meeting held on February 10, 2026, has approved key amendments to its Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information (UPSI). This update is primarily aimed at incorporating recent regulatory changes concerning the Prohibition of Insider Trading. The updated Code (Version 1.2) is effective immediately as of the approval date.
Board Approves Updated UPSI Disclosure Code
The Board of Directors of IIFL Capital Services Limited convened on Tuesday, February 10, 2026, between 3:00 p.m. and 5:30 p.m. During this session, the Board formally approved amendments to the existing Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information (UPSI). This revision integrates necessary changes mandated by the latest updates to the insider trading regulations.
Code Versioning and Effective Date
The updated document is designated as Version 1.2 of the Code. The approval date was February 10, 2026, and the Effective Date for the amended Code is also February 10, 2026. This new version supersedes the previous iteration (Version 1.1, effective April 1, 2019).
Core Tenets of the Code
The objective of the Code remains centered on preserving the confidentiality of UPSI and preventing its misuse. Key elements reiterated within the document include:
- Generally Available Information: Defined as public information accessible on a non-discriminatory basis.
- Unpublished Price Sensitive Information (UPSI): Information that is not generally available and is likely to materially affect security prices, including financial results, dividends, and changes in capital structure.
- Legitimate Purpose: UPSI sharing must be strictly for legitimate purposes in the ordinary course of business, such as sharing with partners, collaborators, lenders, or advisors.
Handling and Dissemination Principles
The Company is committed to ensuring prompt public disclosure of any UPSI that impacts price discovery as soon as credible information exists. Dissemination must be uniform and universal to avoid selective disclosure. The Company Secretary is designated as the Chief Investor Relations Officer (CIRO) overseeing this process. All UPSI must be handled strictly on a “need-to-know” basis.
Furthermore, when sharing UPSI for a legitimate purpose, the communicator must inform the recipient about the nature of the information, their duties regarding confidentiality, and the consequences of misuse.
Public Access and Review
The amended Code, along with any future amendments, will be promptly intimated to the stock exchanges where IIFL CAPS’ securities are listed and will be published on the official Company website. The Code is slated for periodic review to ensure its continued relevance and effectiveness.
Source: BSE
