IIFL Finance leaps as its arm closes co-loan deal with PNB | Udaipur News | Latest news from Udaipur

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IIFL Finance is currently trading at Rs. 282.75, up 2.90 points or 1.04% from its previous close of Rs. 279.85 on BSE.

The script opened at Rs. 273.20 and hit a high and low of Rs. 284.50 and Rs. 269.95 respectively. So far, 66,721 shares have been traded over the counter.

BSE group “A” stock rated at Rs. 2 hit a 52-week high of Rs. 346.55 on Mar-17-2021 and a 52-week low of Rs. 74.00 on Oct-30, 2020 .

Last week the high and low of the script stood at Rs. 322.80 and Rs. 269.95 respectively. The current market capitalization of the company is Rs. 10,702.51 crores.

The promoters’ stake in the company amounted to 24.95%, while Institutions and Non-Institutions respectively held 22.04% and 53.01%.

The subsidiary of IIFL Finance – IIFL Home Finance has entered into a co-loan agreement with the Punjab National Bank (PNB) and aims to increase its loan portfolio by 25% through such partnerships. This is the fourth co-loan agreement signed by the company with banks. The sourcing and management of the loans will be managed by IIFL Home Finance and 80 percent of the loan will be provided by PNB. He expects to increase the loan portfolio by 25 percent with these associations.

The company will serve clients throughout the loan cycle, from procurement and documentation, collection and loan servicing. It aims to break into affordable housing loans and secured loans to MSMEs, in addition to strengthening its portfolio.

IIFL Finance is an Indian diversified financial services company.


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