IIFL Finance Subsidiary Acquires 87.8% in Xtracap Fintech

IIFL Fintech Private Limited, a wholly-owned subsidiary of IIFL Finance, approved the acquisition of an 87.8% stake in Xtracap Fintech India Private Limited.
The total cash consideration for the acquisition is approximately ₹37.7 crore, split into a secondary share purchase and a primary capital infusion.
The acquisition is a related party transaction entered on an arm's length basis, aimed at scaling presence in the supply chain financing segment.
The transaction is expected to be completed within 45 days, subject to execution of definitive agreements and customary conditions.