IIFL Finance Limited , a prominent player in the Indian financial services sector, has announced a significant change in its board composition. Arun Kumar Purwar, who served as a Non-Executive Director, has retired from his position effective July 18, 2025.

Shareholder Approval and AGM Details

The retirement of Mr. Purwar was approved by the shareholders at IIFL Finance's Annual General Meeting (AGM) held on July 18, 2025. The decision was passed with the requisite majority, adhering to the company's governance procedures. This board change occurred as part of the routine rotation of directors at the AGM.

Official Communication and Regulatory Compliance

IIFL Finance has duly informed the stock exchanges about this development, aligning with the regulatory requirements for listed companies. The company filed an official intimation under Regulation 30 of the SEBI Listing Regulations, providing details of Mr. Purwar's retirement in compliance with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

AGM Proceedings

The 30th AGM of IIFL Finance Limited was conducted through video conferencing. The company addressed various resolutions during this meeting, including the adoption of financial statements and the appointment of directors.

Voting Results

The retirement of Mr. Arun Kumar Purwar received overwhelming support from the shareholders. The voting results show:

The resolution passed with 99.99% of the valid votes cast in favor of Mr. Purwar's retirement.

This board change marks a transition for IIFL Finance as it continues to evolve its leadership structure. The company's prompt disclosure and adherence to regulatory norms demonstrate its commitment to corporate governance and transparency in its operations.

IIFL Finance , a prominent player in the financial services sector, has made a significant move to bolster its capital base. The company's Board of Directors has given its approval for the issuance of Non-Convertible Debentures (NCDs) amounting to ₹600.00 crore through private placement.

Key Highlights

• Approval Granted: The Board of Directors of IIFL Finance has approved the issuance of NCDs.
• Issue Size: The approved NCD issuance is worth ₹600.00 crore.
• Method of Issuance: The NCDs will be issued through private placement.

Implications of the NCD Issuance

This decision by IIFL Finance to raise ₹600.00 crore through NCDs is a noteworthy development in the company's financial strategy. Non-Convertible Debentures are fixed-income instruments that cannot be converted into equity shares. They are often used by companies to raise long-term capital without diluting existing shareholders' equity.

The choice of private placement for issuing these NCDs suggests that IIFL Finance is targeting specific investors, possibly institutional buyers or high net-worth individuals, rather than offering these securities to the general public.

Potential Uses of Funds

While the specific purpose of the funds raised through this NCD issuance has not been disclosed in the available information, companies typically use such capital for various purposes, including:

1. Expanding business operations
2. Refinancing existing debt
3. Strengthening the balance sheet
4. Funding new initiatives or acquisitions

Investors and market observers will likely be keen to see how IIFL Finance utilizes this additional capital to drive growth and enhance its market position in the competitive financial services landscape.

As this development unfolds, stakeholders will be watching closely for any further announcements from IIFL Finance regarding the terms of the NCD issuance and the company's plans for utilizing the raised funds.