FIH Mauritius Investments Ltd, along with HWIC Asia Fund, has announced an open offer to acquire up to 10,01,44,112 equity shares of IIFL Capital Services Limited (formerly IIFL Securities Limited). The offer price is set at ₹350 per equity share. The tendering period is scheduled from November 2, 2026, to November 16, 2026. The independent directors committee has deemed the offer fair and reasonable.
Open Offer Details Announced
FIH Mauritius Investments Ltd, acting as the Acquirer, in conjunction with HWIC Asia Fund (PAC), has officially commenced an open offer for the acquisition of equity shares in IIFL Capital Services Limited, formerly known as IIFL Securities Limited. The offer aims to acquire up to 10,01,44,112 fully paid-up equity shares, representing 26.00% of the expanded voting share capital of the Target Company.
Offer Price and Terms
The specified offer price for each equity share is ₹350 (Indian Rupees Three Hundred Fifty only), payable in cash. Public shareholders whose shares are validly tendered and accepted will also be eligible for interest at 10% per annum for any delay in payment beyond the scheduled payment date. The maximum applicable interest is capped at ₹2.68 per equity share.
The total consideration for the offer, assuming full acceptance and maximum applicable interest, could reach up to ₹35,31,93,19,282.
Tendering Period and Key Dates
The tendering period for the open offer is set to commence on Monday, November 2, 2026, and conclude on Monday, November 16, 2026. Shareholders are advised to refer to the Letter of Offer for detailed procedures on tendering their shares.
Independent Directors’ Recommendation
The Committee of Independent Directors (IDC) has reviewed the offer and unanimously approved a recommendation stating that the open offer is fair and reasonable and is in compliance with the SEBI (SAST) Regulations. The IDC noted that the offer price is higher than the volume-weighted average market price of the Target Company’s equity shares for the 60 trading days preceding the public announcement.
Shareholders are advised to independently evaluate the offer and make an informed decision regarding tendering their shares.
Source: BSE
