Starting separate thread for discussion about IIFL securities as earlier thread of IIFL was started before the demerger. IIFL pre-demerger thread had some discussion about IIFL securities as well such as IIFL Holdings Limited (was India Infoline Ltd) - #40 by valueinvesting101 and detailed post by @harsh_visharia IIFL Holdings Limited (was India Infoline Ltd) - #41 by harsh_visharia
Background information about the company is covered in detailed by @harsh_visharia in the above post.
I wasn’t as bullish as him but found valuation compelling. Please checkout related post IIFL Holdings Limited (was India Infoline Ltd) - #42 by valueinvesting101
I am surprised by recent runup in the stock price but company has been executing well. Buyback did lead to exit of some long term holders but insider didn’t participate in the recent buyback indicating that they have positive view about this investment.
Management was buying shares immediately after the demerger in Sept 2019 and also in Nov 2019 at very attractive prices.
Disclosures:
Initiation: I had received IIFL securities share from demerger of erstwhile IIFL.
Additional Purchases: have picked up additional shares at 30+ and 40+ levels.
Partial Exit: I sold 25% after buyback at below 50 levels since buyback had some surprises. Sold another 5% at 62.
Currently holding.
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