🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
✕
Login
Home
News
Messages
Startup Showcase
Trackers
Premium
Premium Content
Jobs
Notifications
Settings
Try our Valuation Calculator →
Log In
News on Medial
IIFL Finance clarifies it hasn't lent ₹440.77 crore to BYJU'S
Twitter
·
1y ago
Medial
IIFL Finance has stated that it did not provide a loan of ₹440.77 crore to BYJU'S, as incorrectly indicated in the edtech startup's audited financial reports for the period ending March 31, 2021. IIFL Finance sought clarification from BYJU'S, and BYJU'S confirmed that this information was mistakenly included. BYJU'S had listed IIFL Finance as a lender in its short-term borrowings section.
View Source
Related News
Never Lent Any Money To BYJU’S, Claims IIFL Finance
Inc42
·
1y ago
Medial
IIFL Finance denies lending any funds to BYJU'S, contradicting BYJU'S claim of a INR 440.77 Cr loan in its FY21 financial statements. IIFL Finance called the mention an error by BYJU'S and confirmed no lending took place. BYJU'S faces challenges with two sets of lenders, Term Loan B (TLB) lenders and Davidson Kempner, over a $1.45 Bn loan. TLB lenders have postponed their legal battle, possibly for out-of-court negotiations, while BYJU'S and Davidson Kempner continue discussions on a loan covenant dispute settlement.
View Source
IIFL Home Finance to raise nearly ₹3,000 crore through bond issue: Report | Mint
Livemint
·
10m ago
Medial
- IIFL Home Finance plans to raise approximately ₹3,000 crore through a public issue of bonds. - The lead managers for the bond issue are Trust Investment Advisors and IIFL Securities, both rated AA by Crisil and India Ratings. - The details of the bond issue have not been finalized yet. - IIFL Finance is aiming to raise ₹10,000 crore through debt between October and March to recover from the RBI's ban on issuing gold loans. - The RBI recently lifted the ban on IIFL Finance's gold loan business, resulting in a surge of over 12% in the company's shares. - HSBC upgraded IIFL Finance stock to 'hold' from 'reduce' after the RBI's decision, with a higher target price of ₹540, and increased its earnings per share estimates.
View Source
IIFL Home's CEO Ratra on growth drivers, high cost of funds, IPO plans and more
VCCircle
·
10m ago
Medial
IIFL Home Finance, a subsidiary of IIFL Finance, has experienced a 50% year-on-year increase in assets under management to Rs 35,975 crore in the first quarter of FY25. This growth follows the acquisition of a 20% stake in the company by the Abu Dhabi Investment Authority (ADIA), the UAE's largest sovereign wealth fund. Monu Ratra, CEO of IIFL Home Finance, discusses the company's growth drivers, challenges related to high cost of funds, and potential IPO plans.
View Source
RBI to conduct special audit of IIFL Finance, JM Financial for regulatory breaches
Livemint
·
1y ago
Medial
The Reserve Bank of India (RBI) has initiated a special audit for IIFL Finance Ltd and JM Financial Products Ltd due to regulatory breaches. It has invited bids from audit firms for conducting the audits, with the last date for submission being April 8. This comes after the RBI imposed restrictions on IIFL Finance and JM Financial Products in March for non-compliance with regulatory guidelines. IIFL Finance was barred from sanctioning gold loans, while JM Financial Products was prohibited from providing financing against shares and debentures.
View Source
Tax authorities conduct searches at IIFL group companies; shares fall
VCCircle
·
6m ago
Medial
India's income tax authorities are conducting searches at IIFL group companies, including IIFL Finance, 360 One Wam, and IIFL Securities. The exact details of the search remain unclear as employees were restricted from using phones during the operation. This development led to a slump in the companies' shares, with 360 One Wam dropping 7.6%, IIFL Finance 3.5%, and IIFL Capital Services around 2.1%. No comments have been given by the involved parties.
View Source
IIFL Finance says Watsa's Fairfax to invest up to $200 mn in liquidity support
Livemint
·
1y ago
Medial
IIFL Finance is set to receive a $200 million investment from Fairfax India as liquidity support after the Reserve Bank of India (RBI) barred the company from disbursing gold loans due to supervisory concerns. Fairfax India, which already holds a 15.1% stake in IIFL, has agreed to provide the investment subject to regulatory approvals. IIFL Finance reassured investors that there would be no significant impact on profitability in the near term, as the company had sufficient liquidity and would continue to recover dues from existing customers. However, analysts have downgraded their recommendation on IIFL Finance stock due to the potential impact of the RBI's restrictions.
View Source
IIFL Finance shares plunge after RBI bars firm from offering gold loans
VCCircle
·
1y ago
Medial
Shares of IIFL Finance, an Indian non-banking finance company, dropped 20% after the Reserve Bank of India (RBI) barred the firm from offering gold loans due to "material supervisory concerns" in its portfolio. The RBI found serious deviations in collateral assessment, breaches in loan-to-value ratio limits, and lack of transparency in charges. A prolonged restriction may impact earnings, lower co-lending income and increase cost of finances. IIFL Finance stated that it has been taking corrective action and the impact on financials will depend on the resolution time.
View Source
Fairfax commits $200 mn to IIFL Finance after RBI ban on gold loans
VCCircle
·
1y ago
Medial
Fairfax India Holdings Corporation has committed $200 million in liquidity support to IIFL Finance after the Reserve Bank of India (RBI) banned the lender's gold loan operations due to concerns over purity certification and breaches in loan-to-value ratio. Fairfax, led by Prem Watsa, has full trust in IIFL Finance's management team and believes they will take necessary corrective actions to meet RBI's compliance standards. This commitment comes as Fairfax continues to monetize its India portfolio. IIFL is a major player in the small-ticket gold, home, and business loan market, with assets under management worth Rs 78,000 crore.
View Source
Fairfax-backed IIFL Finance faces liquidity crunch after RBI curbs
VCCircle
·
1y ago
Medial
IIFL Finance, backed by Fairfax, is facing a liquidity crisis after Indian banks became cautious about lending to it. This comes after the Reserve Bank of India imposed restrictions on IIFL's gold loan business due to supervisory concerns. Banks have stopped lending to IIFL's gold and other businesses, affecting the firm's overall business. Fairfax India, the company's top shareholder, has agreed to provide up to $200 million in liquidity support. IIFL Finance has raised funds through bonds and is planning a rights issue of shares to mitigate the liquidity concerns.
View Source
IIFL looks to raise $1.2 bn in debt amid RBI ban
VCCircle
·
10m ago
Medial
IIFL Finance, an Indian non-bank lender, plans to raise INR 100 billion ($1.2 billion) in debt over the next six months in an effort to diversify its borrowing sources and recover from a recent ban. The Reserve Bank of India had banned IIFL Finance from sanctioning and disbursing gold loans, citing supervisory concerns. The ban was recently lifted, prompting the company to reassess its funding needs. IIFL Finance aims to reduce bank borrowing to under 50% and explore external commercial borrowings, dollar bonds, local bonds, and other non-bank sources for its incremental borrowing needs. The company also plans to diversify its loan products and recruit more employees.
View Source
Trackers
Active Indian VC’s
OG Capital
Email
With a hands-on approach, OG Capital aims to invest in over 20 promising...
Accel Partners
Email
Early and growth-stage investments in disruptive technology companies with...
Blume
Email
Early-stage venture capital firm investing in technology startups in India. Focus on...
Access All Trackers
Startup Showcase Winners
June 2025
Buddy
Helping your parents when you are miles away
BiteStop
The Pit Stop Your Cravings Deserve
Bloomer
The next generation E-commerce platform
Enter Ongoing Startup Showcase
Top Users
Trending News on Medial
Download the medial app to read full posts, comements and news.
Go to Medial App
Not Now
Know everything that’s happening in the startup ecosystem, first.
Enable Notifications?
No, thanks
Count me in
