IIFL Finance Limited has informed the Exchange regarding Outcome of Board Meeting held on February 24, 2026 with respect to issuance of Non-Convertible Debentures on Private Placement basis
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IIFL Finance's Finance Committee, at its meeting on February 24, 2026, approved the terms for issuing senior, secured, listed, rated, redeemable NCDs (Series D36) via private placement. The total issue size is up to ₹1,000 crore, comprising a base size of ₹500 crore plus a green shoe option of another ₹500 crore to retain oversubscription. Each NCD will have a face value of ₹1 lakh, and the instruments will be listed on the National Stock Exchange (NSE). The specific coupon rate, tenure, allotment date, and maturity date are yet to be disclosed and will be as per the relevant Key Information Document. A default penalty of an additional 2% p.a. over the coupon rate has been disclosed in case of delayed interest or principal payments beyond the due date.
This is a routine debt-raising move by IIFL Finance to bolster its funding base, potentially for lending operations. Since the NCDs are senior, secured, and listed, they may appeal to institutional and HNI debt investors; however, the actual cost of borrowing and tenor will determine the impact on the company's interest expenses and shareholder returns.