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<xbrli:xbrl xmlns:in-capmkt="https://www.sebi.gov.in/xbrl/2023-05-31/in-capmkt" xmlns:in-capmkt-ent="https://www.sebi.gov.in/xbrl/Prior_Intimation_Of_Board_Meeting/2023-05-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="https://www.sebi.gov.in/xbrl/Prior_Intimation_Of_Board_Meeting/2023-05-31/in-capmkt-roles" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:in-capmkt-type="https://www.sebi.gov.in/xbrl/2023-05-31/in-capmkt-types" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xl="http://www.xbrl.org/2003/XLink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2023-05-31.xsd"/><xbrli:context id="MainI"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">IIFL</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-06-22</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="MainD"><xbrli:entity><xbrli:identifier scheme="https://www.sebi.gov.in/in-capmkt/NSESymbol">IIFL</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-06-22</xbrli:startDate><xbrli:endDate>2026-06-22</xbrli:endDate></xbrli:period></xbrli:context><in-capmkt:NSESymbol contextRef="MainI">IIFL</in-capmkt:NSESymbol><in-capmkt:NameOfTheCompany contextRef="MainI">IIFL FINANCE LIMITED</in-capmkt:NameOfTheCompany><in-capmkt:WhetherCompanyIsSME contextRef="MainD">false</in-capmkt:WhetherCompanyIsSME><in-capmkt:ISIN contextRef="MainI">INE530B01024</in-capmkt:ISIN><in-capmkt:TypeOfMeeting contextRef="MainI">Board Meeting</in-capmkt:TypeOfMeeting><in-capmkt:TypeOfIntimation contextRef="MainD">New</in-capmkt:TypeOfIntimation><in-capmkt:DateOfProposedMeeting contextRef="MainD">2026-06-27</in-capmkt:DateOfProposedMeeting><in-capmkt:WhetherTradingWindowIsClosed contextRef="MainD">true</in-capmkt:WhetherTradingWindowIsClosed><in-capmkt:DateOfStartOfTradingWindowClosure contextRef="MainI">2026-06-23</in-capmkt:DateOfStartOfTradingWindowClosure><in-capmkt:DetailsOfDateOfEndOfTradingWindowClosure contextRef="MainI">29-06-2026</in-capmkt:DetailsOfDateOfEndOfTradingWindowClosure><in-capmkt:DateOfReport contextRef="MainI">2026-06-22</in-capmkt:DateOfReport><in-capmkt:Agenda1 contextRef="MainD">Fund raising</in-capmkt:Agenda1><in-capmkt:ModeOfRaisingFunds contextRef="MainD">To be ascertained</in-capmkt:ModeOfRaisingFunds><in-capmkt:Mode1OfRaisingFunds contextRef="MainD">Any other method</in-capmkt:Mode1OfRaisingFunds><in-capmkt:RemarksWebsiteDissemination contextRef="MainI">The meeting of the Board of Directors of the Company is scheduled to be held on Saturday, June 27, 2026, inter alia, to consider and approve following matters: 

a. Upsizing of the existing Global Medium Term Note Programme (“GMTN Programme”); 

b. Raising of funds by way of issuance of equity shares or any other eligible securities (“Securities”) in accordance with applicable provisions of the Companies Act, 2013, as amended, SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended and other applicable laws,, in one or more tranches and/or one or more issuances, through public issue(s) or rights issue, including by way of preferential issue(s), private placement(s), qualified institutions placement(s) and/or any combination thereof, as may be permitted under applicable laws, subject to such regulatory/statutory approvals as may be required and approval of Members of the Company;</in-capmkt:RemarksWebsiteDissemination></xbrli:xbrl>
