IIFL Finance Limited has informed the Exchange regarding allotment of 500 Perpetual Debt Instruments on Private Placement basis at its meeting held on September 30, 2025
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IIFL Finance has allotted 500 Perpetual Unsecured Listed Rated Non-Convertible Debentures (Series PDI-1 FY 2026) on a private placement basis, with a total issue size of Rs 500 crore (face value Rs 1 crore per instrument). The NCDs carry a coupon of 9.90% per annum and have a perpetual tenure, though the company has a call option to redeem after 10 years with RBI approval. Interest will be paid annually starting September 30, 2026, and the instruments will be listed on the NSE. In case of default in payment of interest or principal, an additional 2% per annum over the coupon rate will be charged for the default period.
This Rs 500 crore perpetual debt raise strengthens IIFL Finance's capital base, likely qualifying as Additional Tier 1 capital for the NBFC. The 9.90% coupon is a standard market rate and is not expected to materially impact equity shareholders, though it adds to the company's long-term interest obligations.