IIFL Finance has informed Exchanges regarding press release dated April 4, 2025, titled "IIFL Finance to raise upto Rs. 500 Crore through Public Issue of secured, rated, listed, non-convertible ....
Awaiting price reaction for this filing.
IIFL Finance, a non-banking financial company (NBFC), plans to raise up to Rs 500 crore through a public issue of secured, rated, listed redeemable non-convertible debentures (NCDs). The base issue size is Rs 100 crore, with a green shoe option of up to Rs 400 crore, aggregating to Rs 500 crore. The NCDs carry a coupon of up to 10.25% per annum, with the highest effective yield of 10.24% p.a. on the 60-month tenor; tenors offered are 15, 24, 36, and 60 months with monthly, annual, or cumulative interest payment options. The NCDs are rated AA/Stable by both Crisil and ICRA, indicating a high degree of safety. The issue opens on April 7, 2025 and closes on April 23, 2025, with face value of Rs 1,000 and minimum application of Rs 10,000. Proceeds will be used for onward lending, refinancing existing debt, debt servicing, and general corporate purposes. As of December 31, 2024, the company's consolidated AUM stood at Rs 71,410 crore, with GNPA of 2.42% and NNPA of 1.01%.
This is a debt raise, not an equity issue, so existing shareholders will not face ownership dilution. The attractive coupon of up to 10.25% reflects strong demand for high-yield investment options and the company's solid AA credit rating, while expanding IIFL's lending capacity for business growth.