IIFL Home Finance Ltd (“IIFL HFL”) has announced its public issue of secured, rated, listed redeemable non-convertible debentures of the face value of Rs. 1,000 each (“NCDs”) with a base Issue size of Rs. 100 crores with an option to retain any oversubscription up to Rs. 400 crores, aggregating up to Rs. 500 crores, which is within the shelf limit of Rs. 3000 crore (“Tranche I Issue”).
The Tranche I Issue opens on Friday, December 6, 2024 and closes on Thursday, December 19, 2024 with an option of early closure in compliance with SEBI NCS Regulations. Net proceeds of the Tranche I Issue, after meeting the expenditures of and related to the Tranche I Issue, at least 75% shall be utilised for the purpose of onward lending, financing / refinancing the existing indebtedness of the Company, and/or debt servicing payment of interest and/or repayment / prepayment of interest and principal of existing borrowings of the Company and maximum up to 25% for general corporate purposes.