Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015- Update for wholly owned Subsidiary of the Company.
Dear Sir/Madam,
Pursuant to the Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that our Wholly owned Subsidiary Company IIFL Home Finance Ltd and Standard Chartered Bank have entered into a Co-Lending arrangement for extending credit to the MSME loans (loan against property).
Under this partnership, IIFL Home Finance Ltd and the Standard Chartered Bank will co-originate these loans and the IIFL Home Finance Ltd will service the customers through the entire loan life-cycle including sourcing, documentation, collection and loan servicing.
Definitive Agreements for the said Co-Lending arrangement have been executed between the IIFL Home Finance Ltd and Standard Chartered Bank on January 16, 2021 and the same is intimated by IIFL Home Finance Ltd to the National Stock Exchange of India Ltd (NSE) on January 18, 2021 where the IIFL Home Finance Ltd is listed.
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IIFL Holdings Ltd. published this content on 19 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 January 2021 12:13:00 UTC
IIFL Finance Limited is an India-based non-banking financial company that is primarily engaged in financing and related services. The Company operates through the financing segment. The Company offers a suite of financial products such as home loans, mortgage loan, gold loans, loans against securities loans to small and medium enterprises (SMEs), micro finance loans (MFI) and digital finance loans. Its home loans include secured SME loan, new home loan, Pradhan Mantri Awas Yojana and home renovation. The Company and its subsidiaries are engaged in providing a diverse range of loans and mortgages. The Company has a nationwide presence with a network of approximately 4,267 branches, which includes over 500 cities. The Companyâs subsidiaries include IIFL Home Finance Limited, IIFL Samasta Finance Limited and IIFL Open Fintech Private Limited.