IIFL Finance to raise funds via public issue of NCDs, issue to open for subscription this week

The Tranche I Issue consists of public issue by the company of Secured Redeemable Non-Convertible Debentures (NCDs) of face value of ₹1,000 each for an amount upto ₹1,000 million (Base Issue Size) with an option to retain oversubscription upto ₹9,000 million aggregating to ₹10,000 million, which is within the Shelf Limit of ₹50,000 million.

The company is offering bonds maturing in two years, three years and five years at an annual coupon in the range of 8.50% to 9% for investors. Non-convertible debentures (NCDs) are aimed to be used as a financial tool to raise long-term capital.

“we would like to intimate that the Finance Committee of the Board of Directors of the Company at its meeting held on December 30, 2022 has approved the Shelf Prospectus dated December 30, 2022 and Tranche I Prospectus dated December 30, 2022 and the Company has filed the same on December 30, 2022, for the proposed public issue of Non-Convertible Debentures, with the Registrar of Companies, Maharashtra, Mumbai (“ROC”), which is duly taken on record by ROC,” IIFL Finance informed in an exchange filing.

Equirus Capital, Edelweiss, Trust Investment Advisors, IIFL Securities are the lead managers for the bond issue, which is rated AA by CRISIL and ICRA.

IIFL Finance Limited is one of the leading players in the financial services space in India. Together with its subsidiaries – IIFL Home Finance Limited, IIFL Samasta Finance Limited (Formerly known as Samasta Microfinance Limited) and IIFL Open Fintech Private Limited, it provides a diverse range of loans and mortgages.