IIFL Finance appoints Vikas Jain as new CFO, board OKs fundraising plan
This story was originally published at 15:16 IST on 27 June 2026
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--IIFL Fin to raise up to INR 100 bln via equity, others
--IIFL Fin raises borrowing limit to INR 750 bln from INR 600 bln
--IIFL Fin appoints Vikas Jain as CFO from Sat, to replace Kapish Jain
--IIFL Fin ups global medium term notes programme limit to $2 bln from $1 bln
NEW DELHI – IIFL Finance Ltd. Saturday appointed former Hinduja Leyland Finance Ltd. executive Vikas Jain as its new chief financial officer, replacing Kapish Jain, who will become the company's new chief strategy officer.
Vikas Jain is a Chartered Accountant with over 20 years of experience in finance, treasury, and audit. He was chief financial officer at Hinduja Leyland. He has previously worked at Bajaj Finance Ltd., Bajaj Housing Finance Ltd., and PwC.
IIFL Finance's board approved raising up to INR 100 billion by issuing equity shares or other eligible securities, the company said in an exchange filing. The board also approved upsizing the existing limit of the company's global medium term notes programme to $2 billion from $1 billion. The company's borrowing limit has also been increased to INR 750 billion from the existing limit of INR 600 billion.
The non-banking finance company had reported a consolidated net profit of INR 5.87 billion for the March quarter on a total income of INR 37 billion. Its shares Thursday ended at INR 509.70 on the National Stock Exchange, down 2.9% from Wednesday. The stock market was shut Friday for Muharram. End
US$1 = INR 94.39
Reported by Shubham Rana
Edited by Rajeev Pai
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