# IIFL Finance has officially announced a strategic acquisition through its wholly-owned subsidiary IIFL Fintech Private Limited.

*fintech · news · 2026-05-02 · scanx.trade*

## Key points

- IIFL Fintech Private Limited will acquire up to 87.8% of Xtracap Fintech for ₹37.7 crore.
- The acquisition is split into a ₹25.7 crore secondary purchase and ₹12 crore primary capital infusion.
- No government or regulatory approvals are required; completion is expected within 45 days.
- Board approved raising up to ₹10,000 crore via private placement of non-convertible securities in FY27.
- Vinay Agrawal was appointed as Business Head - Loan Against Property, effective April 29, 2026.

**Companies:** IIFL Finance
**Countries:** India

[Read the full story on scanx.trade](https://scanx.trade/stock-market-news/companies/iifl-finance-subsidiary-acquires-87-8-stake-in-xtracap-fintech-for-37-7-crore/39137274)

---

Canonical: https://newsio.io/n/df4fc242-8b31-4afa-9ad7-ae415da668e1/iifl-finance-has-officially-announced-a-strategic-acquisition-through-its-wholly
Summarized by Newsio from scanx.trade. https://newsio.io/how-it-works