IIFL Fintech Completes Acquisition of Xtracap, Establishes Step-Down Subsidiary Status
IIFL Finance Limited’s wholly-owned subsidiary, IIFL Fintech Private Limited, has finalized the acquisition of Xtracap Fintech India Private Limited (Xtracap). This transaction solidifies the fintech vertical of the finance company.Following the completed acquisition, IIFL Fintech holds 89.69% of the paid-up share capital of Xtracap. As a result of this stake and control, Xtracap is now classified as a step-down subsidiary of IIFL Finance Limited.
The move by IIFL Fintech underscores its expanding footprint in the fintech sector following the successful integration of Xtracap into its corporate structure.
IIFL Stock Price Movement
Today, IIFL Finance Limited shares edged higher to close at ₹518.90, rising by 5.07%. The equity traded a total volume of 2.25 million shares during the session, finishing well above its open price of ₹500.00.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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