FIH Mauritius Investments Ltd, alongside HWIC Asia Fund, has announced an open offer to acquire up to 10,01,44,112 equity shares of IIFL Capital Services Limited. This represents 26% of the expanded voting share capital. The offer price is set at INR 350 per share. The tendering period for public shareholders is scheduled to commence on June 24, 2026, and conclude on July 8, 2026.
Open Offer Details
As part of a strategic investment, the acquirer, FIH Mauritius Investments Ltd, along with the person acting in concert, HWIC Asia Fund, is initiating an open offer for IIFL Capital Services Limited. The offer is for the acquisition of up to 10,01,44,112 equity shares, which accounts for 26% of the target company’s total expanded voting share capital, at a cash price of INR 350 per share.
Strategic Rationale
The open offer is triggered by an investment agreement aimed at increasing the acquirer’s aggregate shareholding. Upon completion, the acquirer intends to exercise control over the target company, aligning with their goal to participate in the growing Indian financial services sector. The acquirer and the person acting in concert will be reclassified as ‘promoters’ of IIFL Capital Services following the completion of these transactions.
Key Project Timelines
The tendering period for public shareholders to participate in the offer is officially set from June 24, 2026, to July 8, 2026. Interested shareholders can submit their applications through their respective brokers during this timeframe. The final completion of payment for accepted shares is expected by July 22, 2026, subject to the successful verification of all submitted documents.
Shareholder Participation
Public shareholders wishing to tender their equity shares are advised to consult their financial and tax advisors regarding the potential tax implications. The offer is not conditional upon any minimum level of acceptance. Shareholders should ensure that their broker is registered and that all necessary documents, including the Form of Acceptance-cum-Acknowledgement, are submitted accurately to the registrar, MUFG Intime India Private Limited.
Source: BSE
