IIFL Finance’s `2,000 cr NCD issue opens today

Hyderabad: IIFL Finance Limited, a non-banking financial company (NBFC), has announced the launch of a public issue of secured redeemable non-convertible debentures (NCDs) which is set to be open through February 17 and March 4. With an issue size of Rs500 crore and a green-shoe option to retain oversubscription up to Rs1,500 crore, aggregating to a total of Rs2,000 crore. The funds raised will be utilized for business growth and capital augmentation.

The NCDs will be issued at a face value of Rs1,000 each, with a minimum application size of Rs10,000 across investor categories. It offers an effective yield of up to 9 per cent per annum, with investment tenors of 24 months, 36 months, and 60 months. Investors can choose from multiple interest payment options, including monthly, annual, and cumulative (at maturity).

Nirmal Jain, Founder, IIFL Finance, said:“IIFL Finance is among India’s leading NBFCs, with a strong nationwide presence and a diversified retail portfolio serving the credit needs of 4.6 million largely underserved customers. The proposed fund raise will enable us to expand credit access further while diversifying our funding sources. Over the years, IIFL Finance has built a strong track record of raising funds through bonds and ensuring timely repayment of principal and interest.”