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IIFL Finance to raise Rs 1,000 crore via bonds

The bonds are available in tenors of 24 months, 36 months and 60 months.

September 23, 2021 / 04:03 PM IST
 
 
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Non-banking financial company IIFL Finance on Thursday said it is planning to raise up to Rs 1,000 crore through issuance of non-convertible debentures (NCDs) of various maturity.

The company will issue NCDs aggregating to Rs 100 crore, with a green-shoe option to retain oversubscription up to Rs 900 crore, a release said.

The bonds are available in tenors of 24 months, 36 months and 60 months.

The frequency of interest payment is available on a monthly, annual and at maturity basis for 60 months tenor, while for other tenors it is available on an annual and at maturity basis.

The bonds offer the highest effective yield of 8.75 per cent per annum for the tenor of 60 months.

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The company will also offer an incentive of 0.25 per cent per annum for its existing bond or equity shareholders.

The funds raised will be used for business growth and capital augmentation, the release said.

The issue will open on September 27, 2021, and close on October 18, 2021, with an option of early closure.
PTI
first published: Sep 23, 2021 04:03 pm

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