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IIFL Finance approves $686 million capital infusion led by Blackstone

Nasdaq +2 · ·by G4L

BX Blackstone Inc
$122.53 -1.23%
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  1. 1The board approved a total Tier 1 capital infusion of 64.14 billion rupees ($686 million) for IIFL Finance.
  2. 2Blackstone will provide 50 billion rupees ($535 million) in the form of mandatory convertible preferred shares.
  3. 3Nirmal Jain and R. Ventratahman will contribute 12.6 billion rupees ($135 million) through warrants.

So what's the key point?

Blackstone is leading a plan to inject $686 million into IIFL Finance. This means new funds are coming into the company.

Source Nasdaq +2 · View original ↗

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