IIFL Finance Limited plans to raise Rs 2,500 crore to Rs 5,000 crore by selling a 10-20% stake to a minority private equity investor, with promoters Nirmal Jain and R Venkataraman potentially subscribing to warrants to limit dilution. Founder Nirmal Jain said Fairfax Financial Holdings is likely to reduce or exit its stake after its proposed 60% acquisition of IDBI Bank due to RBI norms on common ownership of a bank and NBFC.