ICIIFL Capital Services542773Preferential allotment

Preferential allotment of ~5.71 crore equity shares at INR 350; acquirer stake rises to 38.04%

FIH Mauritius Investments Ltd has been allotted ~5.71 crore equity shares on a preferential basis on November 4, 2026, at INR 350 per share.

By ScoutQuest · Thu 5 Nov 2026, 9:14 AM IST · 2 min read

Shares Allotted

~5.71 crore equity shares on a preferential basis

Allotment Price

INR 350 per share

Acquirer Holding Post Allotment

26.82% to 38.04% (combine 30.11% to 40.83%)

What has been disclosed

• FIH Mauritius Investments Ltd, the acquirer, has been issued and allotted ~5.71 crore equity shares of IIFL Capital Services Ltd on a preferential basis.
• The allotment date is November 4, 2026 and the mode of acquisition is Preferential Allotment.
• The purchase price per share is INR 350.
• The allotment follows an Investment Agreement dated May 7, 2026 between the acquirer, the target company and Nirmal Bhanwarlal Jain and Venkataraman Rajamani.

How the shareholding changes

• The acquirer held ~8.46 crore equity shares (26.82%) before this allotment.
• After the allotment it holds ~14.18 crore equity shares (38.04%).
• The person acting in concert, HWIC Asia Fund (Class A Shares), holds ~1.04 crore equity shares.
• The combined holding of the acquirer and the person acting in concert moves from ~9.5 crore equity shares (30.11%) to ~15.21 crore equity shares (40.83%).

Why the new shares are restricted

• Under Regulation 22(2A) of the SEBI (SAST) Regulations, the acquirer will not exercise any voting rights on these shares until the open offer is completed.
• The shares are held in a separate share escrow account, i.e. a demat escrow, as required under these regulations.
• On completion of the open offer, these shares would be transferred from the escrow account to the acquirer's demat account.

How the percentages are calculated

• The "before" percentages use ~31.55 crore equity shares as the denominator, being the total share capital as per the latest Regulation 31 update as on September 30, 2026, adjusted for shares allotted on conversion of employee stock options on October 29, 2026.
• The "after" percentages use ~37.27 crore equity shares as the denominator, which includes the ~5.71 crore equity shares allotted to the acquirer.
• Because total shares rise, the person acting in concert's stake reads 3.28% before and 2.78% after, though the number of shares held by it is unchanged.

What this means for a retail reader

• This is a disclosure of an already-agreed preferential allotment being completed, not a fresh open-market purchase.
• The incoming shares are locked in escrow without voting rights until the open offer process is completed, so the voting position of the acquirer stays restricted in the interim.
• The price of INR 350 per share is the reference point for the allotment, and the percentage holdings above show the size of the stake involved.

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