IIFL Finance Limited has informed the Exchange about issue of Securities
IIFL · price
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IIFL Finance Limited's Finance Committee approved the terms for issuing unsecured, subordinated, listed, rated, redeemable Non-Convertible Debentures (NCDs) via private placement. The company is offering two options: Option A with a 10-year tenure (maturity June 20, 2035), annual interest payments, and a base issue size of ₹100 Crore (green-shoe up to ₹200 Crore); Option B with a 7-year tenure (maturity June 24, 2032), monthly interest payments, and a base issue size of ₹50 Crore (green-shoe up to ₹250 Crore). Each option involves up to 30,000 NCDs of ₹1,00,000 face value, totaling up to ₹300 Crore per option. The NCDs will be listed on NSE, with allotment on June 24, 2025, and the coupon rate will be determined via NSE's electronic bidding platform.
This is a routine debt-raising exercise by IIFL Finance to bolster its capital base. For shareholders, it may lead to some dilution of equity perceptions (subordinated debt), but no immediate equity impact. Investors should watch the final coupon rate once discovered, as it will indicate current borrowing costs for the company.