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In a significant development, IIFL Finance, a prominent non-banking financial institution, has announced its intention to raise funds amounting to 20 billion rupees (approximately $241.5 million). This move comes as the company seeks to bolster its capital position after being restricted by the Reserve Bank of India (RBI) from offering gold loans.
IIFL Finance plans to raise the funds through a combination of mechanisms:
This strategic move by IIFL Finance demonstrates its commitment to maintaining financial robustness even in the face of regulatory headwinds. Investors and stakeholders will closely watch the execution of this capital-raising initiative as the company charts its course forward.
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