2 weeks Ago
IIFL Finance has announced a public issue of secured, rated, listed non-convertible debentures (NCDs) to raise up to ₹500 crore. The issue will open on April 7, 2025, and close on April 23, 2025. The NCDs offer a coupon of up to 10.
25% per annum. The base issue size is ₹100 crore, with a green shoe option to retain oversubscription up to ₹400 crore. The NCDs will be issued at a face value of ₹1,000, with a minimum application size of ₹10,000.
Allotment will be made on a first-come, first-served basis. Investors can choose tenors of 15, 24, 36, or 60 months. Interest payout options include monthly, annual, and cumulative.
Series IX offers the highest effective yield of 10.24% per annum for a 60-month tenor. CRISIL and ICRA have rated the NCDs “AA/Stable,” indicating high safety and low credit risk.
The company will use the proceeds for onward lending, financing, and general corporate purposes. The NCDs will be listed on BSE and NSE, with NSE acting as the designated stock exchange. IIFL Finance, an RBI-registered NBFC-Middle Layer, offers credit through home loans, gold loans, MSME loans, personal loans, microfinance, and more.
As of December 31, 2024, IIFL had ₹71,410.19 crore in assets under management and a branch network of 4,858 locations across India. The lead managers for the issue include Trust Investment Advisors, Nuvama Wealth Management, and IIFL Capital Services.
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