India Finsec Ltd. Approves Proposed IPO for Subsidiary IFL Finance Limited
India Finsec Ltd. announced on March 27, 2026, that its Board of Directors has approved the initiation of a process for a proposed Initial Public Offer (IPO) of its subsidiary, IFL Finance Limited (formerly IFL Housing Finance Limited). The IPO will consist of up to 3,60,00,000 equity shares through a fresh issue and up to 40,00,000 equity shares through an offer for sale. Shareholder approval and statutory regulatory approvals are required for the IPO to proceed.The Board also approved the notice for an Extraordinary General Meeting (EGM) to obtain shareholder consent. Voting will be conducted remotely from April 21, 2026, to April 23, 2026. M/s Sarita Singh & Associates has been appointed as the Scrutinizer for the remote e-voting and e-voting during the EGM. The cut-off date for remote e-voting is April 17, 2026.
Additionally, the Board re-appointed Mr. Devi Dass Agarwal as an Independent Director for a five-year term, commencing July 1, 2026, and ending June 30, 2031. This appointment is also subject to shareholder approval at the Extraordinary General Meeting. Mr. Agarwal brings 43 years of experience in the banking and finance sector, including 18 years as a Branch Head at the Central Bank of India. He is not related to any other director of the company, and is not debarred from holding office.
The Board meeting was held from 1:30 P.M. to 2:00 P.M.
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