Blackstone to Lead $686 Million Capital Raise for India's IIFL Finance

IIFL Finance has approved an equity raise of US$871 million, led by Blackstone, marking one of the largest private capital infusions into a listed Indian non-banking financial company (NBFC). Blackstone affiliate Ingot SG will invest US$679 million for a 15.57% post-issue stake. The capital infusion aims to boost IIFL's capital adequacy ratio and support the expansion of its secured lending, particularly in gold finance.