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CDC Group sells a 3.7 percent share in IIFL Finance for $45 million in India.
Unsplash photo by Josh Appel
Ramarathinam, Ashwin
1st of July, 2021
In an open market transaction on Wednesday, CDC Group Plc, the UK government’s development financing agency, sold 14 million shares in IIFL Finance Ltd, or 3.7 percent of the company, for about Rs337 crore.
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IIFL Finance CDC Group
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IPOs & Markets IIFL Finance will raise up to $141 million through a bond issuance.
The NCDs would be listed on the BSE and NSE to offer investors with liquidity.
IIFL Finance is acquiring Samasta Microfinance in India.
In July of this year, IIFL Finance received Rs1,000 crore from CDC Group, the UK government’s development finance institution, in exchange for a 15.4 percent stake in the company.
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