Motilal Oswal is feeling optimistic about IIFL Finance, recommending its shares with a target price of ₹850.
The big reason? IIFL has approved a hefty ₹64.1 billion capital raise, mostly from global giant Blackstone, which should boost its financial strength and help it grow faster.
IIFL capital adequacy could hit 30%
Thanks to this new funding, IIFL's capital adequacy ratio could hit 30%, making it more resilient.
Motilal Oswal expects better profits too, predicting assets under management could grow 24% annually and profits might jump 60% over the next couple of years.
Recent numbers are solid as well.