On 31 March 2017
IIFL Holdings provides update -1.India Infoline Finance (IIFL), the NBFC Subsidiary, made following additional investments during March 2017: a. Infused an additional equity capital of Rs.160 crore in its 100% housing finance Subsidiary i.e. India Infoline Housing Finance; b. Infused additional equity capital of Rs. 50 crore in Samasta Microfinance. With the above, IIFL Finance's shareholding in Samasta, a Subsidiary, stands increased to 95.23%.
2. IIFL Wealth Management, a subsidiary of the Company transferred its shareholding (71%) in India Alternatives Investment Advisors Private to its Private shareholders. IIFLW would continue to distribute India Alt's AIF products to its Clients.
3.The following Independent Directors of the Company have been appointed as Independent Director on the Material Subsidiaries: a. Nilesh Vikamsey on the Board of IIFL, the NBFC Subsidiary of the Company; Dr. S. Narayan on the Board of IIFL Wealth Finance, a step down subsidiary of the Company.
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