IIFL Finance Limited has informed the Exchanges regarding press release dated April 10, 2025, titled "IIFL Finance''s Non-convertible Debentures Issue Oversubscribed 4.75 times, Plans Early Closure"
Awaiting price reaction for this filing.
IIFL Finance's public issue of secured, rated, listed redeemable non-convertible debentures (NCDs) was oversubscribed 4.75 times, collecting Rs 475.03 crore by end of April 9, 2025. The issue opened on April 7 and will now close early on April 11, ahead of its scheduled closing date of April 23, 2025. The issue had a base size of Rs 100 crore with a green shoe option of Rs 400 crore, aggregating up to Rs 500 crore, with the highest effective yield of 10.24% per annum for the 60-month tenor. Proceeds will be used for onward lending, refinancing existing debt, debt servicing, and general corporate purposes. The NCDs carry high safety ratings of CRISIL AA/Stable and ICRA AA (Stable).
Strong oversubscription signals robust investor confidence in IIFL Finance's credit profile, allowing the company to raise capital ahead of schedule and likely at favorable terms, which is positive for shareholders and reflects well on the NBFC's market standing.