IIFL Finance Limited announces that its wholly-owned subsidiary, IIFL Fintech Private Limited, has successfully completed the acquisition of Xtracap Fintech India Private Limited. Following this acquisition, IIFL Fintech now holds 89.69% of Xtracap’s paid-up share capital, classifying Xtracap as a step-down subsidiary of IIFL Finance. This strategic move is expected to strengthen the company’s position in the fintech sector.
Key Acquisition Announcement
IIFL Finance Limited is pleased to inform stakeholders that its wholly-owned subsidiary, IIFL Fintech Private Limited (formerly known as IIFL Open Fintech Private Limited), has finalized the acquisition of Xtracap Fintech India Private Limited (referred to as “Xtracap”). This development marks a significant step in the company’s strategic growth initiatives within the fintech landscape.
Ownership and Subsidiary Status
As a result of the acquisition, IIFL Fintech now possesses 89.69% of the total paid-up share capital of Xtracap. Consequently, Xtracap will be classified as a step-down subsidiary of IIFL Finance Limited. This integration is anticipated to leverage synergies and enhance the combined entity’s market presence and service offerings.
Regulatory Compliance
This intimation is provided in accordance with the provisions of Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has ensured compliance with all applicable regulatory guidelines throughout the acquisition process.
Forward-Looking Statement
IIFL Finance Limited views this acquisition as a strategic enhancement to its fintech operations. The company is confident that the integration of Xtracap will contribute positively to its overall business objectives and market competitiveness. Further details and operational updates will be shared as they become available.
Source: BSE
