IIFL Finance Limited has announced plans to raise up to Rs 500 crore through a public issue of secured, rated, listed, redeemable non-convertible debentures (NCDs). The issue will open on Monday, April 7, 2025, and close on Wednesday, April 23, 2025, with an option for early closure depending on subscription demand.
The NCDs are rated “Crisil AA/Stable” and “[ICRA] AA (Stable)”, indicating a high degree of safety regarding timely servicing of financial obligations. The funds raised will be utilized for onward lending, refinancing existing debt, and general corporate purposes.
The base issue size is Rs 100 crore, with a green shoe option of up to Rs 400 crore, taking the total potential raise to Rs 500 crore. The NCDs are offered in tenors of 15, 24, 36, and 60 months, with the highest effective yield reaching up to 10.24% per annum for the 60-month series.
The issue will be listed on BSE and NSE, with NSE being the designated stock exchange. The debentures will be issued at face value of Rs 1,000 each, with a minimum application size of Rs 10,000.
As of December 31, 2024, IIFL Finance’s consolidated Assets Under Management stood at Rs 71,410 crore. The company reported a gross NPA of 2.42% and a net NPA of 1.01%. Over 71.9% of its loan book is secured by collateral. The NBFC operates through 4,858 branches and employs over 38,000 people across the country.
Lead managers for the issue include Trust Investment Advisors, Nuvama Wealth, and IIFL Capital Services.
