Mon, December 2, 2024
Sun, December 1, 2024
Sat, November 30, 2024
Fri, November 29, 2024
Thu, November 28, 2024
Wed, November 27, 2024
[ Wed, Nov 27th 2024 ] - Bill Williamson
Where to invest for 2025
Tue, November 26, 2024

IIFL Finance to raise upto Rs 500 cr via NCDs


//business-finance.news-articles.net/content/202 .. fl-finance-to-raise-upto-rs-500-cr-via-ncds.html
Published in Business and Finance on Friday, November 29th 2024 at 2:00 GMT by Bill Williamson   Print publication without navigation

  • 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 ]

Publication Contributing Sources