, formerly IIFL Securities, on Wednesday clarified that it explores “various strategic opportunities” from time to time on reports of TPG Capital considering picking up a significant minority stake of 30-40 per cent in the company, according to an exchange notice.
Media reports on Wednesday said TPG Capital’s eventual holding will depend on the stock tendered by minority shareholders in the open offer.
“The company explores various strategic opportunities from time to time; however, as on date, there is no information or development that requires disclosure under Regulations on 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,” IIFL Capital informed exchanges.
IIFL Capital promoters, including Nirmal Jain and his wife Madhu, own 30.98 per cent stake in the company, while Prem Watsa-backed Fairfax is the second-largest shareholder with a 27.27 per cent stake via FIH Mauritius Investment.