Promoters, officials buy IIFL shares from open market

MUMBAI: IIFL promoters and key employees have bought shares of the company from the open market in the last one week.

According to BSE data, Nirmal Jain, the chairman of the IIFL group, acquired 1 lakh shares of IIFL, while MD, K Ventaraman, and director Karan Bhagat bought 50,000 and 75,000 shares from the market between February 5 and 12.

The sharp correction in the company’s share price — 58 per cent in the last one year — has given an opportunity to the promoters to increase their holding in the company.