IIFL raises Rs 900 crore through NCD issue

India Infoline Finance Ltd today said it has raised Rs 900 crore through public issue of secured redeemable non-convertible debentures.

The NCD issue has collected Rs 900 crore and is closing on September 23, a statement issued here said.

The company had launched NCD issue aggregating up to Rs 525 crore, with an option to retain over-subscription up to Rs 525 crore, aggregating to a total of up to Rs 1,050 crore on September 17.

Investors are preferring to opt for the Monthly Income Option of 3 years and 5 years, respectively. The Retail and QIB portions have been fully subscribed, the release said.

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IIFL NCDs have an option of monthly and annual interest payment and the yield works out to 12.68 per cent per annum for the monthly interest option and 12 per cent per annum for the annual interest option.

The NCDs will be listed on NSE and BSE and will have a tradeable lot size of 1 NCD.