IIFL Securities' board approved the formation of a dedicated subsidiary that will cater solely to healthcare and insurance needs. The company's filing to the Bombay Stock informs that the company would be carrying out the spin-off via its existing wholly-owned subsidiary, Livlong Protection and Wellness Solution, previously known as IIFL Corporate Services.
The subsidiary would commence operation in FY 2021-22, the company informed.
"The Company vide letter dated July 22, 2021, had intimated that the Board of Directors had approved the formation of a subsidiary which will focus on solving healthcare and insurance needs of our customers by leveraging technologies," the company stated in the filing.
https://www.bseindia.com/xml-data/corpfiling/AttachLive/d2a2f765-ccad-4a94-80cf-439e8051ed2d.pdf
