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IIFL Finance to raise upto Rs 500 cr via NCDs

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IIFL Home Finance, a material subsidiary of IIFL Finance has planned to raise up to Rs 500 crore through non-convertible debentures (NCDs) at a face value of Rs 1,000 each.
IIFL Finance Ltd has announced its plan to raise up to Rs 500 crore through the issuance of non-convertible debentures (NCDs). The public issue of secured NCDs opened on November 29, 2024, and will close on December 13, 2024, with an option to close earlier if fully subscribed. The NCDs offer various tenures ranging from 24 to 60 months, with interest rates between 8.35% and 9% per annum, payable either monthly, annually, or on a cumulative basis. The funds raised will be utilized for onward lending, financing, and repayment of interest and principal of existing borrowings. The issue is rated 'AA/Stable' by both CRISIL and ICRA, indicating a high degree of safety regarding timely servicing of financial obligations.

Read the Full Business Standard Article at [ https://www.business-standard.com/markets/capital-market-news/iifl-finance-to-raise-upto-rs-500-cr-via-ncds-124112900313_1.html ]


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