IIFL Capital Services board approved the strike-off of its wholly owned subsidiary IIFL Securities Services IFSC Limited and the transfer of India Infoline Foundation to IIFL Finance.

The decisions were taken at a board meeting held on September 11, 2026. The company disclosed that the IFSC entity had not commenced business operations since incorporation and contributed nil revenue to the consolidated group.

Key corporate decisions

The board cleared two structural changes under Regulation 30 of the SEBI Listing Regulations. The first involves the voluntary winding up or strike-off of the International Financial Services Centre entity. The second involves transferring the membership interest in the not-for-profit foundation to a group company.

Summary of board approvals

Transaction details

IIFL Securities Services IFSC Limited is a wholly owned subsidiary that has not undertaken any business activities. As of March 31, 2026, it reported nil income and a negative net worth of ₹ (2.09) lakh, representing 0% of the company's consolidated net worth. No binding agreement was entered into for this closure, which will proceed subject to regulatory approvals.

India Infoline Foundation is a Section 8 company limited by guarantee without share capital. It does not carry on commercial activities and is not consolidated in the financial statements. The transfer to IIFL Finance Limited is a related party transaction executed at arm's length. The consideration of ₹10,000 reflects the value attributed to the membership interest held by IIFL Capital Services.

Shareholders of IIFL Capital Services approved all seven resolutions at its 31st annual general meeting held on September 9, 2026. The approvals included the adoption of financial statements for FY26 and authorization for non-convertible debenture issuance.

The meeting was conducted via video conferencing. Snehal Shah & Associates served as the scrutinizer for the voting process. All resolutions passed with the requisite majority under the Companies Act, 2013 and SEBI Listing Regulations.

Voting Results Overview

The total number of shares eligible for voting was 3,15,17,886 as on the cut-off date of September 2, 2026. Institutional investors showed high participation rates across most resolutions.

Related Party Transaction Approvals

The company sought approval for material related-party transactions with four entities: IIFL Finance Limited, IIFL Home Finance Limited, IIFL Samasta Finance Limited, and a subsidiary, IIFL Management Services Limited.

Promoters and the promoter group abstained from voting on these specific resolutions to avoid conflict of interest. Public institutional investors voted in favour with an approval rate of 99.40%. Non-institutional public shareholders also supported the transactions, with an approval rate exceeding 99.99%.

Board Re-appointment and Debt Issuance

Members re-appointed Mr. R. Venkataraman as a director retiring by rotation. The resolution received 99.81% support, though institutional investors cast 4,04,548 votes against it.

A special resolution authorizing the offer, issue, and allotment of secured or unsecured redeemable non-convertible debentures passed with near-unanimous support. It garnered 99.99% affirmative votes, with promoters casting their full holding in favour.