IIFL Finance Explores Exit Options for Microfinance Subsidiary IIFL Samasta

IIFL Finance is considering exiting its microfinance subsidiary, IIFL Samasta Finance, and has initiated preliminary discussions with multiple potential buyers, including Piramal Finance. While Piramal Finance has denied ongoing talks, IIFL Finance confirmed it regularly evaluates strategic options to enhance shareholder value. IIFL Samasta, with assets under management of ₹9,681 crore as of December 2023, faced a 16% year-on-year contraction and a ₹39 crore net loss in the first nine months of the fiscal year. The microfinance firm, acquired by IIFL in 2017, serves 2.3 million customers through 1,590 branches nationwide.