IIFL Capital Services Limited has submitted a regulatory disclosure to BSE Limited and The National Stock Exchange of India Ltd. regarding an open offer extension approval received from SEBI.
The disclosure concerns an open offer by FIH Mauritius Investments Ltd ("Acquirer") and HWIC Asia Fund (Class A Shares) ("PAC") for acquisition of equity shares of IIFL Capital Services Limited from its public shareholders. The open offer is being conducted under the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
SEBI had issued final observations for this open offer vide its letter dated September 10, 2026 (reference number HO/49/12/11(90)2026 CFD-RAC-DCR1). However, certain statutory approvals required to proceed with the open offer were pending at that time.
The Manager to the Offer requested SEBI to extend the period of commencement of open offer. Accordingly, SEBI granted approval for extension for opening of open offer vide its letter dated October 30, 2026 ("Extension Letter").
The Extension Letter from SEBI (signed by Chetan Choraria, Division of Corporate Restructuring, Corporation Finance Department) addresses ICICI Securities Limited (Manager to the Offer) and specifies the following conditions:
- The tendering period for the Open Offer may commence not later than twelve working days from the receipt of approval of the Insurance Regulatory and Development Authority of India (IRDAI) and Securities and Exchange Board of India (SEBI)
- Payment to all successful Public Shareholders who tender their Equity Shares must be made within ten working days from the last date of the tendering period
- In case of any delay in payment, the acquirer must pay interest at ten percent per annum for the delay period
The company is required to ensure immediate dissemination of this information on the stock exchanges in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.