IIFL Finance Approves Multi-Crore Fundraising Plans and Announces CFO Transition
IIFL Finance Limited has announced several significant decisions following its Board meeting on June 27, 2026, including enabling resolutions for substantial capital raising, upsizing of global debt instruments, and key changes in the finance leadership.The Board approved comprehensive steps to bolster the company's financial structure, covering equity fundraising potential, international borrowing capacity, and internal lending limits.
Key financial mandates approved by the Board include:
- Equity Raising Capacity: An enabling resolution was passed for raising funds through various means, including public issue(s), rights issue, private placement(s), or a combination thereof, for an aggregate amount up to and not exceeding ₹10,000 Crore (Rupees Ten Thousand Crore).
- Global Debt Financing: The limit for the Global Medium Term Notes Programme (GMTN Programme) was upsized from USD 1 billion to USD 2 billion.
- Borrowing Limit Enhancement: The borrowing limit and the limit for creating security on the Company's assets were enhanced, increasing from ₹60,000 Crore to ₹75,000 Crore.
The company’s operational strength and leadership structure saw immediate changes effective in June 2026. Mr. Kapish Jain stepped down from his role as Chief Financial Officer (CFO) on June 26, 2026, transitioning into another role within the organization.
In parallel, the Board announced the appointment of Mr. Vikas Jain as the new CFO and Key Managerial Personnel of IIFL Finance Limited, effective June 27, 2026. The appointment comes following a recommendation from the Nomination and Remuneration Committee and the Audit Committee.
Details regarding the leadership transition are provided in the table below:
| Position | Previous Incumbent | Date Cessation | New Incumbent | Effective Date |
|---|---|---|---|---|
| Chief Financial Officer (CFO) | Mr. Kapish Jain | June 26, 2026 | Mr. Vikas Jain | June 27, 2026 |
Mr. Vikas Jain brings a substantial background to the role. He is a Chartered Accountant and holds certifications including CISA, CISM, and PMP. His experience includes serving as CFO of Hinduja Leyland Finance, where he oversaw large-scale treasury operations and diversified fund raising activities. He has also held roles at Bajaj Finance, Bajaj Housing Finance, and PwC, possessing strong expertise in finance transformation, AUM growth, and compliance across financial services.
IIFL Stock Price Movement
Shares of IIFL Finance Limited on Thursday slipped by 3.06% to settle at ₹509.7. The stock recorded a trading volume of 2.84 million shares as the equity closed after earlier setting a day low of ₹509.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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