IIFL Finance, one of India’s largest Non-Banking Financial Companies, is offering up to 9% yield on its bonds issue with high degree of safety. The public issue of secured bonds opened on June 9, 2023, to raise up to Rs. 1,500 crores, for the purpose of business growth and capital augmentation. The bonds issue closes on June 22, 2023 or even before based on demand.
IIFL Finance will issue secured redeemable non-convertible debentures (NCDs), aggregating to Rs 300 crore, with a green-shoe option to retain over-subscription of up to Rs 1200 crore (aggregating to a total of Rs 1,500 crore).The IIFL bonds offer highest effective yield of 9% per annum for tenor of 60 months. The NCD is available in tenors of 24 months, 36 months and 60 months. The frequency of interest payment is available on annual, at maturity basis and with monthly option for 60-month tenure.
IIFL Finance’s Group CFO Mr. Kapish Jain said, “IIFL Finance through a strong physical presence of over 4000 branches across India and a well-diversified retail portfolio caters to the credit needs of underserved population. The funds raised will be used to meet credit need of more such customers and accelerate our digital process transformation to enable a frictionless experience.”