IIFL Finance up 8% after ADIA picks 20% in housing fin arm for Rs 2,200 cr

This is the second investment by ADIA in entities working in housing finance space in FY23. Last month, it concluded a deal to pick up 10% in HDFC Capital Advisors for Rs 184 cr

Shares of IIFL Finance surged over 13 per cent to the day’s high of Rs 372, before ending 7.57 per cent higher at Rs 353.90 on Friday on the BSE.

The gains follow the news announcement on Thursday late evening by IIFL that its wholly-owned subsidiary, IIFL Home Finance (IIFL-HF) has entered definitive agreements for raising Rs 2,200 crore of primary capital for a 20 per cent stake from a subsidiary of the Abu Dhabi Investment Authority (ADIA). The deal completion is subject to regulatory approvals, it said.

This is the second investment by ADIA in entities working in the