FIH Mauritius offers ₹350 per share for IIFL Capital Services

FIH Mauritius Investments Ltd has launched a mandatory open offer to acquire up to 26% of the expanded voting share capital of IIFL Capital Services Limited at ₹350 per share.

The offer is part of an investment agreement that grants FIH Mauritius control over the financial services firm. The acquirer, along with its person acting in concert (PAC), HWIC Asia Fund, aims to purchase up to 10,01,44,112 fully paid-up equity shares.

The total consideration for the open offer, assuming full acceptance and including interest for delay in payment, is ₹3,531.93 crore. The offer price was determined based on the highest negotiated price under the investment agreement and the volume-weighted average market price of the preceding 60 trading days.

The open offer is triggered by regulations requiring an offer when an acquirer intends to acquire control or increase shareholding beyond specific thresholds. FIH Mauritius entered into an Investment Agreement dated May 7, 2026, with IIFL Capital and its promoter sellers.

Under this agreement, the company will issue 5,71,42,857 equity shares via preferential issue at ₹350 per share, aggregating to ₹1,999.99 crore. Upon completion of the preferential issue and the open offer, FIH Mauritius will become the promoter of IIFL Capital.

The PAC, HWIC Asia Fund, will be classified as part of the promoter group. The existing promoters will continue to hold their positions, subject to reclassification rules if applicable.