Blackstone to Acquire 15.57% Stake in IIFL Finance

07:36 AM EST, 11/10/2026 (MT Newswires) -- Blackstone (BX), through its Singapore-based investment vehicle Ingot SG Pte, is set to acquire a 15.57% stake in IIFL Finance through a preferential issue of compulsorily convertible preference shares worth 5,000 crore Indian rupees ($50 billion), the company said Tuesday. The investment vehicle will subscribe to 8.31 crore compulsorily convertible preference shares at 602 apiece rupee, giving it a 15.57% stake on a fully diluted basis. The proposed 6,414 crore rupees preferential issue also includes investments from Anchorage Capital funds and warrants issued to IIFL's promoters, it added. The deal requires shareholder and regulatory approvals, with an EGM set for Dec. 4. Blackstone will also receive board nomination rights.